This Dremel rotary tool clone is a great deal at $21

I've been using this Wen rotary tool for a few months and I'm really happy with it. It accepts Dremel bits, which I already have in abundance. If you don't have any Dremel bits, no problem -- it comes with a good starter assortment. The flexible shaft is an added bonus, because it gives you more control than holding the tool itself. It's a great way to rough out the shape of wooden spoons I've been whittling: