Tickle Me Elmo is a children's toy from Tyco Preschool, a division of Tyco Toys, based on the character Elmo from the children's television show, Sesame Street. When squeezed, Elmo would chortle. When squeezed three times in a row, Elmo would begin to shake and laugh hysterically.
The toy was introduced in the United States in 1996, quickly becoming a fad. Some parents literally fought other parents in stores to purchase one for Christmas. The dolls' short supply due to the unexpected demand lead stores to increase their price drastically. Newspaper classifieds sold the plush toy for hundreds of U.S. dollars. People reported that the toy, originally sold at US $28.99, fetched as much as $1500. (Full article...)