Its a basic blue led light in miniature WiiMote!

Materials Needed
Soldering iron
Solder
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.

Step 2: Cutting Down Useless Plastic

Cut and sand down so that the switch and the led can be glued in placed later.

Step 3: Gluing and Soldering

Glue down the battery holder.
Solder the red wire to the shorter end of the switch
then solder the long pin of the led to the other pin on the switch (cut the leg to size)
the shorter leg will be soldered to the black wire.
glue everything into place.