What you see right there is the Loop from Hillcrest. It is an “air-mouse” that uses motion controls to shift the cursor around on your PC, and it is also compatible with gaming systems like the Xbox 360 and PS3.
I had a chance to try it out, and found that my computer recognized it instantly. It is a pretty good product if you like to use air mice, and its shape is as practical as it is lovely. It costs about $99, and if you want to know more information, then you can read my full review here.