And a lot of things around you - its a Joby Beamo - a portable LED light for the smaller camera.
I do not own one, but I do own a portable LED light that sort of reminds me of this product. So I have a little experience with the idea - and the idea is a good one.
In the case of the Joby Beamo, it has features that my more basic light lacks - it can be charged electronically with out the need to connect a cord to an internal socket. It can be stacked in four's for a lot more light output. It is waterproof to 100 ft. And it comes with a soft plastic diffusion dome that clips on the front.
To be fair, I could have had some of those features with mine had I opted for a deluxe kit, but as it is I get great value out of it. The uses of these lights:
a. Video recording with small cameras or mobile phones. This is particularly useful for the selfie vlogger.
b. Still camera shooting with macro illumination - you can get a beam from this sort of light down very close in front of a macro lens.
c. Set illumination for odd lighting - inside glass vessels or metallic pots. In model airplane hangars. Under chins for Disney villains.
d. Eyelight boost for video or still work - not enough to affect the rest of the setup but a good Hollywood highlight.
e. Finding things under the seat of the car out in the driveway after dark before they go mouldier. You can only get an approximate location by smell.
It goes up and down in intensity and the dome makes an interview or vlog shot a lot kinder to the subject.
I keep an LED light on my video rig for when dancers beetle off into the darkness dancing on tables and suchlike. You can track them by the sound of crashing glassware, but the light lets you get enough video for art or evidence.