Everyone from Craft Gossip to Craft Zine seems to be talking about the new craft tool, the Crop-A-Dile from We R Memory Keepers.
I was lucky enough to pick one up while on holiday in Canada and I've been using it for all kinds of projects since. The heavy-duty punch seems to be able to punch through almost anything and the Crop-A-Dile can even install snaps and grommets.
Julia Stanton has written a great review for it on her blog, so check it out and find out if this is the tool for you.