A novelty item has a base and a display extending upwardly from the base. The display comprises at least a first segment and at least a second segment each having an outer cylindrical wall and an inner cylindrical wall, the inner and outer walls separated from one another thereby defining a first interior space, and the inner cylindrical wall defining a second interior space. A divider is located between the first and second segments, the divider supporting the second segment over the first segment in generally vertical alignment, the display having a generally open top leading to an interior of the display defined by the second interior space of said first and second segment. The novelty item may have the appearance of a gaming machine "top" light and may be also be configured for utilitarian use, such as a writing utensil holder or mug.