If you have a child that strays further away than the nearest TV, LG's KizON is for you. It has GPS abilities and a smartphone companion app to ping the location of the wearer to the phone of the person who paid for it, although it lacks any "fun" stuff to make the child think it's a cool toy like the thing daddy looks at all day.
The LG KizON has a feature LG calls the One Step Direct Call, a simple way for the owner to connect a voice call straight to the device, with KizON able to make an outgoing call to one pre-configured number, in case of an emergency like teddy fell down a hole. Its battery should be good enough for 36 hours of location pings to paranoid parents. [KBW]