This is a cordless joystick, of which Logitech claims it keeps working up until 20 feet from your PC. 10 programmable buttons (and most games automatically pick up and assign functions to the first few), 1 mini slider (to be used for instance as throttle) and a 8-way hat switch. The stick itself not only can be moved on the X- and Y-axis, but also rotated.
This makes the stick ideal for flying: throttle, stick and pedals (rotation) all combined in one device.
The joystick rests on 3 legs. Rubber basing rather than weight assures stability.