The PicooZ is the smallest remote control helicopter there is, and its pretty damn cheap for a flying RC, around 30 Euros (20 GBP / 40 USD).
This thing has become extremely popular, or so ive heard. It can withstand many many many falls and bumps and isnt very hard to control once you play around a bit. With a little help of the aluminium foil that is sent with the package or using a thumbtack it gains stability and speed.

IGN has a pretty good summary: http://gear.ign.com/articles/750/750231p1.html

Does anyone have one? Does anyone want one?