Are these not the cutest most coolest things u've seen?! ^_^. It's called The Shrek MP3 Player because it's reminds them of Shrek (DreamWorks).
Here's some what the website says:
"An ogre isn’t definitely the coolest living thing and the entire appearance makes us hate the package but, when we think about Shrek, the whole hatred theme seems a sacrilege. The uncanny character is peace loving and therefore he deserves a gadget that does make him all the more special. The Shrek MP3 player at the
moment is a proposed thought from South Korean designer Sang Hoon Lee, but with the kind of design on offer and the chic headphones, the carefree ogre from the swamps might just bring them into focus..."