Sorry, I wasn't real clear...
The one we have has a little spring loaded "swingarm" in it that will close a circuit causing a pattern of lights when it gets spinning fast enough.
Also, when it is spinning if you try to change the angle of it's axis, it resists it.
Thanks for all the input.
So, no real name for this other than "Intriguing little spinning-disk-flywheel-on-a-string-toy"?
Nigel, Sterrance, Tim and Da Huuuuudge. I see.