Researchers form the University of Tokyo have designed a pen shaped device called as Pen de Touch that allows user to interact with the virtual environment but at the same time the device produces a sensation to your hand as if the environment is real.
The Pen shaped device is actually a haptic display and by analyzing the kinesthetic sensation from the hand it signals the virtual environment in which user is moving the pen. For example if the pen is moving inside a virtual box then the user will feel the kinesthetic sensation if the pen touches the walls of the box.

Via Designboom