I thought this was particularly interesting considering the format of the current Design Slam! competition.
From the bit of reading I have done it seems like a highly creative and environmentally friendly solution.

I don’t know if anyone has come across anything similar to this (and therefore if its surprising to just me).

are you a female? 'cause that stuff has been around.

there’s also lunapads ( a tad inconvenient imo) and sea sponge tampons (that sound just awesome):

diva cup is more known in the USA than in Europe, mooncup is basically the diva cup…I’m pretty sure diva cup comes in rubber and silicone ( for females who are allergic to rubber…plus rubber changes its color after use)
The cups save a TON of money…

There’re actually a lot (with all of that diy movement) women who make their own pads…i can’t imagine putting my family through that whole rag-in-a-bucket-soaking-washing-drying process every month.