The latest product craze across the pond Silly Bandz wrist bands is set to hit UK multiples in the next few weeks and is predicted to generate £20m in sales by Christmas.

The colourful elastic wristbands have been available in the US for a year, where a million packs are sold every week, according to UK distributor Launch Products. Already a hit with several celebs, including model Agyness Deyn and Sex and the City star Sarah Jessica Parker, Silly Bandz will be introduced to the UK in 10 themed packs.

Each pack contains 24 bands shaped like zoo animals and sea creatures, to guitars and drum kits (rsp: £3.99). When not worn, the bands bounce back to their original shape.

"Silly Bandz have proven a huge success in the US. We have had talks with major multiples and expect to be delivering within a fortnight," said Jeremy Woolf, director of distributor Launch Products.