I bought one when we were at WDW in December 2004. It had lots of cute stuff in it... a small plastic MGM Studios picture frame (that looks like one of those movie clapboard things... it's big enough to hold a wallet size pic), a MVMCP pin that has little flashing lights on it, a cool round holographic postcard with Sorceror Mickey on it, and a Mickey pencil.
I thought everything in it was neat. I wore the pin around at night and lots of people commented on it. If nothing else, it's good souvenir stuff for a child or someone back home!
If you are talking about the grab bags at the $10 or less shop in DTD- we bought one (our 4 yr old picked one for herself) a couple of weeks ago I think it was $6.99. She got a Magic Kingdom pen, flashing sourcer hat pin, a pack of mini playing cards, a stuffed animal white seal from the living seas, and maybe 1 more thing I cant think of. That 10 dollar store is pretty good- moat of the stuff can be found in the world of Disnay store but then do have some clearance type items too. There was one area of things that were 4 for $10. We got a holographic mouse pad, a car window sticker, a scrapbookkit and shot glass!
I bought 2. I got several pens with clapping Micky hands atop it, It was hard to get the pen cap off, so thats the reason they were in there I think, I got a magnetic bumper sticker, 2 small battery operated fans and Mickey face necklaces that are supposed ot light up (the face of Mickey is clear?) the battery things didn't work, but I fixed that with my own batteries.
I loved the assortment of things, it was a great price and I'm a SERIOUS sucker for Grab bags, something my father instilled in me. *grin*