I don't need another 1AAA twisty flashlight, but new lights are fun to try out. With that in mind, I bought this 20 lumen Rayovac 1AAA Indestructible LED flashlight yesterday for about $6 (US) at Home Depot.
http://www.homedepot.com/p/Rayovac-Indestructible-1AAA-LED-Key-Chain-DIYKEY-B/205567711You twist the head to switch the light on and off. The LED looks a little large than the 5 MM emitters of old and produces a floody pattern without much throw. It is whiter, brighter, and much floodier than my Arc AAA-P DS.
The light is made of plastic and there is a rubber overmold at both the head and tail. It looks like you can abuse it like a rental car. There is an O-ring on the head, though the light isn't rated as being completely waterproof.
I removed the small split ring which came with the light. Then, I enlarged the hole in the tail to 3/32" and drilled a second 3/32" hole. Threaded a short length of braided nylon cord through both holes to form a lanyard.
The modified Rayovac tail stands with more stability and there is no metal in the way when holding it between your teeth if required.
I like this little flashlight at least $6 worth.