I had one of these when I was a kid. Was thinking about it yesterday in conjunction with some memoir work I'm writing. I was thrilled until I read that Rush Limburger had one as a kid too.
In 1962 Remco Toys of Newark, New Jersey got into the act with their Caravelle combination AM radio receiver and transmitter. This simple to assemble kit came supplied with a microphone and Morse code key. Powered by a single 9 volt battery the Caravelle with its integrated 3 foot antenna could be heard on nearby AM radios. It's interesting to note that radio personality Rush Limbaugh owned one of these during his youth, perhaps serving as the inspiration for him pursuing a career in broadcasting later in his adult years.