According to the information on the website, the Mattel Loopz Game will "mobilise your memory, rock your reflexes and tune up your timing." The Loopz plays changing patterns of lights and music. You need to repeat them by waving your hands through the matching loops---you don't need to touch anything. There are different game modes that even let you create your own music.
Three of the four customer reviews on the site give it a four star rating, and one reviewer gives it a five star rating. That's pretty good. Even though I can't really see the point of it myself, it must be fun to actually play.
One reviewer says "I got this for my 14 year old for Christmas and she liked it. My 3 year old however loves it. She plays with it for hours copying the noises and moves - it's brilliant for her. But I have to say it took a while to work out how to turn the volume down."
Well the fact that you can actually turn the volume down is a plus for me!