I met a couple early one morning at a local bagel shop who had colored lights hanging and strapped to their MTB's that were similar to the Fibre Flair. They said they got them at our local Target store and were pretty cheap, $-wise. They (the lights) looked sort of like miniature Star Wars light sabers. I haven't had a chance to get to Target yet to get a closer look.

I'm sure the Fibre Flair is more hi-tech; these were more "meh-tech" but could do the same job.