Its a basic blue led light in miniature WiiMote!
Micro switch (5$ at radio shack)
Blue Led (5$ for 2 at radio shack)
2xAAA battery holder (5$ at radio shack)
WiiMote candy dispenser (1$ at dolorama)
total 15$ (5$ at real electronic store)
Step 1: Making a Hole for Battery Holder
Make a small hole (enough for the wires to pass) using a pocket knife or a heated screwdriver.