Simplicity Bias Tape Maker
I bought this automatic bias tape maker a few months ago and have fallen in love with how quickly and easily it whips up perfectly pressed tape! If you quilt or do lots of larger sewing projects, it is a wonderful tool and a good investment. Just cut your fabric strips as usual, wind them onto the arm, let the mini iron heat to the appropriate fabric setting, and let it do its work. It makes yards of custom bias or binding tape in just a minute or two.
The two things I'd mention are that it sometimes balks slightly at a joined seam, so I've learned to gently guide the tape along at those points, and that it seems to work best for me on thinner fabrics in general (like quilting cottons), rather than heavier weights. I love how compact and portable the maker is, and that the tiny iron is adjustable to an impressive range of heat levels, if you work with different types of materials.
$99 at simplicity.com