Tamagotchi
What? The Tamagotchi was/is a handheld virtual pet of your very own. When mum and dad said you couldn't have a dog because you're too damn lazy to walk it or clean up it's poo then they simply had to let you have your very own Japanese egg-blob-creature-thing instead.
Who?: Tamagotchi was first released in 1996 by Bandai and was an instant hit. Basic as it is Akihiro Yokoi's original design has endured ever since and is still going strong today. Here's a bizarre ad for the Tamagotchi Angel range: http://www.youtube.com/watch?v=UrMTKe9oChk
Amusement Factor: Tamagotchi's came really close to causing the end of society as we know it back in the mid 1990's. Everybody had one. They were everywhere. It didn't matter if you were unemployed or King of the Universe you were never too busy to keep track of your pet's progress, ensuring he or she was well fed, had plenty to drink, had had a good read or play and wasn't waddling around in their own faeces. It was like having a pet but it was also like having a baby. And let's not even begin to discuss what it was like when your Tamagotchi died. Oh my! Kids would miss school, adults would phone in sick to work. It was heartbreaking. Well, at least until everyone forgot they owned them and they all just died forever.
Awesome Rating: Banned by most schools. That's pretty bad ass, right?