I had so many of these as a child. They were a big deal in the late 90s, but I have to say, I haven't worn one in years. They work fairly well, but I don't love the look of them. I prefer thin hair ties that aren't so visible.
I cannot say enough good things about the Naked 2 palette. I love the colors and the brush is amazing. The eyeshadow shades can be used in ways that will give you a subtle look or a more done-up look. It's the best!