It is like a memory foam mattress, for your hand.
The Lite-On Technology company won a 2007 Red Dot Concept Award for something neat they made, called (appropriately) the Moldable Mouse.
Made out of a variety of clay and with a nylon and polyurethane cover, the Moldable Mouse is just that: moldable. You can re-shape the mouse to better fit your very own hand. No fancy tools necessary -- you can just squeeze and work the mouse into any shape you'd like. You could even make something else out of it, like a joystick for instance.
The mouse buttons and scroll wheel are actually stickers. The stickers have radio frequency identification technology in them so they can be moved around, on the mouse. The only part of the mouse that can not be reshaped is a thin plastic base that carries batteries, circuitry, and laser optics.
Pretty neat. But the sad side of the story is that is only a concept right now -- so don't expect to see them in stores any time soon. Maybe winning the Red Dot Concept award will encourage Lite-On to bring this neat mouse into production.