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I've seen something like that around before. Expect it was just one big handle that you squeezed. It looks like to could add some improvement to your playing. It might devolop the muscles in your hand make it easier to hold down chords. Also looks like it can get that pinky strength up.
I have one and I barely use it. If you want to strengthen your fingers, I say just do first position 1234 or hammer-ons
86% of the people who frequent the "Electric Guitar" forum would say that they have played guitar for under 5 years.
I've found that by keeping it in my pocket and using it even in the short down time I have, I have strengthened my pinky significantly. It can also help you gain more independence between your digits if you have that problem. Plus it's good for stress relief, if needs be. Heh.