This is the iMotion, a controller concept by Intellect Motion. It's a mouse, that you hold in the air, which doubles as a motion-sensor, and triples as a means of getting haptic feedback.
All of which sounds awfully ambitious, not to mention tiring (holding the thing in the air for prolonged use doesn't look ideal), but it's as an Oculus Rift control aid that the iMotion starts to look a lot more practical.
A problem the OR is going to face, especially in genres with established control schemes already in place, is how you're going to move around and interact without breaking the immersion the headset provides.
This is one of the better ideas I've seen. Not perfect, but...better.
iMotion — 3D motion controller with haptic feedback [Kickstarter, via GamesBeat]