It's a knitter's supertool! Set to debut March of 2009!
The Knit Kit has a tape measure, stitch counter, thread cutter, crochet hook, folding scissors(TSA approved), tip protectors, and stitch markers; all contained in a compact like body. You can't really see it in the picture so the dimensions are 4 3/4"x3 1/2"x5/8", it weighs 4 oz., and the estimated price is going to be $19.95. I'm really excited about it and am planning on picking one up as soon as one of my lys gets them in.
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