The open-it. http://www.bedbathandbeyond.com/product.asp?SKU=14757910
It is a scissor/knife tool that makes opening all those kid presents a breeze. It even has a little screw driver. It's our favorite gift to give.
Thanks for posting that! I ordered it for our work gift exchange. I found it on ebay for $11.55 including shipping. I kind of hope I end up with my own gift!