Hi Zac,
I tried to sell my blinking projects at my city's "midnight street party" for 20 bucks.
There were Chinese people there selling by the thousands brightly blinking buttons similar to my big ones for only 2 bucks! They used surface mount parts and a main microcontroller IC. Their small button battery cells won't last long. Replacement cells cost much more than their whole product!
They had bouncing translucent balls with blinking LEDs inside. They had a gadjet that spun around a display of multi-coloured LEDs in changing patterns, very cheap.
I bought some solar-charged garden lights on sale. They have
real glass spheres (not plastic) with the surface of the glass shattered in many lines. Inside is an RGB ultra-bright LED that slowly fades the brightness from one colour to the next. They have a microcontroller making them work, and old-fashioned Ni-Cads as their battery.
They are so bright that they shine on the ceiling of my bedroom, off-axis and pretty far away. If the sun charges them all day, they work all night long. When it is cloudy, they work only an hour.
If you are good at drilling holes in glass to mount LEDs (I had a hard time drilling CDs) then you could make some of my "6V Ultra-bright LED Chaser" projects http://www.electronics-lab.com/projects/games/004/index.html
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