Now, what would be quite useful is a hand-held trundle wheel type, something 3" or 4" in diameter. An endless tape measure!
So it would be a disk with encoder marks on and a microcontroller to count the encoder marks and keep track of distance traveled.
Next, i'm sure somebody is going to moan about the fact you'd have to keep the thing moving in a straight line to stay accurate, which you would, but there you can eventually add a second wheel and do some clever maths to work out deviation from straight. Or even store details of the line traced that can be loaded to a computer