10/31/2013 11:57 am ET

The Truth About The Rainbow Loom

Flickr: The Facey Family

Elementary schools and playgrounds are all aflutter with excitement over the latest colorful fad: the Rainbow Loom.

Parents hear that this $17 toy uses fine motor skills, no batteries, and will draw out the creative side of their kids, so are easily persuaded to snap one up for the whole family.

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