Sounds like the EZ Root:
EZ Root website I've never tried one of these, but it's sort of like a rotary epilator without the motor. Lookls like instead of the rows of metal tweezers found in rotary epilators, this device uses a semi-sticky latex-like material which grasps hairs and pulls them out by the root.
Their claims that it's "painless" are certainly an exaggeration, but it might be an interesting thing to try. My concern is durability-- is it still as effective after numerous uses, or after washing?
Anyway, let's all keep an eye on this one!