As we reported a while ago, the makers of the awesome iPad app Paper have developed a new stylus called Pencil. In fact, it looks like a jumbo pencil used for construction, but (of course) it is Bluetooth-enabled and does a variety of things when used with Paper.
A clever "kiss to pair" connects the device to your iPad, and unlocks some new features in Paper. The app will ignore your wrist resting on the screen, as one example, something that is a consideration if you're used to tablets like those from Wacom. You can erase with the Pencil (again, like Wacom pens) by flipping it around and using the "eraser" on one end.
Two models are available: a US$59.95 "Walnut" model and a $49.95 "Graphite" model. The tip isn't like Evernote's ball point; it's more like a Cosmonaut stylus, but chiseled to look like a big pencil. Makes sense! You can read more about the Pencil on TechCrunch. We hope to review it soon.