Bandits are very simple to understand: they're a rubber band with a hook. This may not seem extremely compelling at first glance, but there's actually a lot you can do with them. They can be used to hang a water bottle on your bike, your sunglasses from your car's rear-view mirror, tools on a ladder when you need to set them somewhere, and virtually anything you can think of.
Aside from just hanging stuff, as you can see from the above image they're good for simple binding, too. Where a rubber band is difficult to get around large (or at least long) objects, because of the hook the Bandit can do this very easily. One great application is cable management. You could bind all your cables together with a Bandit or two and then hang the cables anywhere using the hooks. This was you can easily keep your cables out of site but also take them down and unbind them very easily if you need to make any additions or alterations to the group. That's the best use in my opinion, but they're pretty versatile so you have a lot of options.
The downside might be the price, but possibly not. You get 10 Bandits for $US10. At $US1 each, it seems like a lot when compared to rubber bands. On the other hand, they're tough so it's not like they have the shelf life of a rubber band either. Hopefully these will end up being reasonably popular and Quirky will eventually cut the price. $US10 isn't unreasonable if you put these Bandits to good use, but at, say, $US5 a pack they'd be a no-brainer.
Bandits can be bought directly from Quirky, but it'll cost you $US9.99 to get them shipped to Australia via the cheapest option.
Bandits ($US10 for 10) [Quirky]