Funny enough I have a Winnie the Pooh pen at work I use occasionally. Has a hole in the rear used for the pen cap, and it used to light up yellow from a small 3mm LED and 3 button cells in it. Sadly the batteries went flat, and dismantling the sealed one to replace them was destructive.
I doubt the trolls would enjoy the pencils, even our very own special unnamed one ( hi PQ!), though I would take only moderate pleasure in doing the insertion. I also have a sharpener per pencil, bad $1 bid on an auction, and I won this lot.