Those are Vineyard Vines Crazy Bands.
Silly bandz for the preppy.
Stuff your stockings full of them.
Update: So I originally wrote this yesterday right before my second to last exam. After I took the exam, I decided to take the rest of the night off from studying. I went down to the Georgetown VV store and snatched up a few packages. They're PRECIOUS.
Definitely a new addition to my daily stacks. Woo!