It's best not to question what is you are looking at, rather, bathe in it's awesomeness. According to the good folks over at Instructables you will need:
-a laptop computer, pda, or other electronic device
-yarn (I used about 10 skeins for this)
-knitting needles (straight, double-pointed, and circular)
-a sense of humor
Technology meets fashion, or fashion meets technology, this is far beyond quirky and it wins for that alone. It does solve a problem or you could just, you know, go to another room if privacy is your thing.