Ten One Design has brought a number of well-received accessories to the iOS world, including the recently announced Magnus iPad stand.

Now the company has taken the wraps off of a new pressure sensitive stylus that it is publicly stating as “our first product for the iPad 3.”

Dubbed “Project Blue Tiger“, the stylus uses Bluetooth 4.0 to automatically link with an iPad or iPhone with no pairing required. The width of the line drawn by the stylus is controlled by pressure, and there’s a tiny multi-colored LED that displays the current color of “ink” being dispensed by the virtual pen.

Before you rush out and order one of the as-yet-unnamed styluses, please understand that Ten One Design hasn’t yet made the decision to produce the device. As Ten One states on their website, the product will ship after being approved by the FCC, and if there is enough developer support. The company has developed a free API to allow developers to integrate the stylus with their drawing or painting apps.

Full details of the stylus, including the name and price, should be available soon. Be sure to check out the demo video below.

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