The GameLeash / CamLeash is exactly what it says it is. A simple idea to be sure, but after having shopped for a camera wrist strap recently, it wasn't as easy to find something I liked. And if you're buying your child a new camera or handheld video game player, getting them a wrist strap that's more secure than what comes with the device is a pretty good idea.
They are both identical (just different packaging) and made of velcro and neoprene.
A single leash costs $9.99 and a four pack (bundled for Nintendo Wiimotes really) will set you back $29.99. Available now from Leashtec.com.