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MagicMouse, a three-dimensional computer mouse was designed by a team of five WPI undergraduates –

…the mouse uses an array of receivers to track the motion of a tiny ultrasonic transmitter worn on the index finger like a ring. The unique design, the first radical change in the computer mouse in more than 40 years, makes it possible to control and manipulate items on a computer screen just by pointing at the monitor. – News > 3D Mouse Through Hand Waving – [via] Link.