A company in Malaysia seems to have borrowed a bit of the old iPod Nano 2G design in making their players. The knockoffs support MP3, WMA, MTV, AMV, voice recording, ebook reading, FM radio, photo viewing, and comes with 1 or 2GB of memory. Best of all, they're now only RM 200 ($54) and RM 290 ($79).
Much less expensive than Apple's offering, but somehow we doubt it's built to the same standards. Would make for a great gag gift though.