The Loop Pointer is an ingenious device by Hillcrest Labs that enables you to easily control a home theatre PC system from your couch. Requiring no surface, the Loop Pointer works its magic in the air like a remote control – communicating with your PC via a wireless USB transceiver.
Based on patented Freespace technology, the Loop Pointer claims to provide intuitive and precise control of a TV connected to a Mac, PC or Linux box – whilst compensating for unwanted (and surely aggravating) movements such as hand tremors.
Featuring a simplified 4 button + scroll wheel interface and quick plug-and-play installation, the Loop Pointer is available now and can be purchased for $99.00 from Amazon.com.

Sources:
Amazon.com via Oh Gizmo