A kneadable (say: needable) eraser is the demented love child of a regular cheddar cheese pencil eraser and a stout wad of silly putty (tm). Used only by true artist(e)s, these wonderfully squishable exorcisers of error are usually grey-ish in color, and are indeed quite effective at what they do.

Their moldable, variable topologies gives them a succinct advantage over regular erasers, although their durability does (unfortunately) take a hit. Once, during chemistry, I sculpted ball-and-stick model complex organics using only toothpicks and a kneadable eraser. Stylish AND practical, as they say.