I absolutely love Penguins, and the other year had this little dude as as little pressy for Christmas.
Mine no longer has the strap - apparently it is easy for a cat the shred.

It's "flipper" is what winds the torch up and gives it power, there is a little switch on the other side. To use the light you can wind it and then flip the switch or just continuingly wind it - which isn't really worth it. I just wind it (it's not so much a wind, more of an in and out action) for a while and then flip the switch.

The light itself isn't very powerful, this is a given really as it's a small, windable torch. I think it's just more of a novelty item than a practical item. I don't really use it much, the only time I use it is when I go in the loft, I used it a few months ago when we had a powercut (and it didnt even light up the whole room).

All in all, it's a great little gift idea for someone who likes Penguins. But I wouldn't advise the purchase for a practical use.