London, July 12 (ANI): They are stretchy, colourful and have even caught the fancy of Sarah Jessica Parker-the new ‘Silly Bandz’.

Made of colourful bits of silicone, Silly Bandz are set to become a huge craze for both kids and fashion-conscious Brits this summer.

Costing 3.99 pounds for a pack of 24-just 17p each- the simple accessory even has a Facebook page with nearly 300,000 followers.

Inventor Robert Croak has already seen his company’s annual sales rocket from a few thousand pounds to 66million pounds.

Silly Bandz stretch into regular bracelets, which instantly revert to their original shape when removed.

Fans tend to wear ten to 20 at a time.

They come in a wide range of colours and shapes, and some packs are themed.

The Moonlight pack, for example, includes a vampire, werewolf and set of fangs.

“This is the American dream. This is way too much fun for me to take the money and run,” the Sun quoted Croak, 47, who refused an offer of 6.5million pounds for his firm, as saying. (ANI)