It's a small box with physical materials for quickly creating prototypes. It works for both board games and prototyping video game mechanics.
I like to have everything in a box in case I can take it to a jam or someone’s house to work.
You can make it however you like and with whatever you have at home; in mine, I have:

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There's not much more to it; I encourage you to prototype as soon as possible so you can iterate and show things quickly.