I got this product sometime back when I was hauling from Nonpareil Boutique.
Here's the promo pic that is randomly taken from the web.

They have many more pretty colors for this liner.
Please see one of the swatches from Make up Alley.

The Turquoise one looks fab here!
However, I only got the black one. =)
Here's the actual product.

What attracts me to try out this liner is not only because of its price, but also this:-

The descriptions on the box.

But do you know that this liner is also very tiny?!

The product picture looks normal but the actual size of this is tiny! So cute! =)
And here's the felt-tip liner.

Product description:
Make a statement! Create a thin line for a subtle yet distinctive look. Or sweep on bolder strokes to lay on the drama. Available in a variety of shades to complement every eye color and skin tone.
The product details:
Fast drying, smudge-proof color
Glides on smooth
Create a thin line for a subtle look or thick line for more drama
Brush applicator
Be the girl with the eyes. Create dramatic eye emphasis in a single stroke. This long-wearing, quick drying formula applies smoothly and evenly for instantly bigger and bolder eyes.
Not tested on animals
Made in China
Product size: $2.99/0.12 oz; Or you can get this from Nonpareil Boutique
My thoughts:
Before I tell you about my own thoughts, let me show you a little experiment that I've done.

See how easy it smudges?
I'm not sure about the reviews from Make Up Alley but for me, I would have rate only ONE star for this because of it's cuteness. =)
Frankly speaking, this Mega Liner smudges pretty badly on me. Not only it's not waterproof, the staying power isn't as great as well. The liner only stays on about 30 minutes or so on me. Or maybe I have oily lids and a pair of teary eyes. Also, this liner takes quite a while to dry off too.
On the bright side, the liner glides on very smoothly and the felt tip didn't felt "pokey" as well. Too bad the formula doesn't work for me, if not I would have stock them up for their the turquoise ones. =)
Overall, if you don't have oily lids like me, maybe you could try them as well since it's less than $3 bucks. =) Please also let me know if you felt otherwise. (I hope I don't break too many hearts for this one) =\