CARY - Nine-year-old Peter Donahue is a pretty devoted Silly Bandz collector. The rising fourth-grader from Cary carries his collection of the novelty rubber bands on a glow stick ring around his neck.

So far, he has 105 of them in a variety of shapes, colors and even scents.

"I hated them for a while," Peter said. "But then when I got some, and my friends and cousins had them, I liked them."

He goes online to keep track of which bands are the most rare, and he likes to go to trading events, such as one held July 15 at the A.C. Moore store in Cary.

The craft store sponsored Silly Bandz trading events at each of its 135 stores along the East Coast.

As most any child or parent can tell you, the bands, which have several brand names, have exploded in popularity.

Some schools nationwide have even banned them because they proved so distracting to the elementary set.

Michele Cameron came to the A.C. Moore event with her three children and contemplated attending another trading event elsewhere that weekend. She said the bands have become more valuable than money for her kids, who chose Silly Bandz instead of cash after finishing a chore for a neighbor.

The Cary mom acknowledges she didn't quite understand the obsession when she started hearing about them in the spring.

"I thought they were office supplies at first before kids started wearing them on their wrists," she said. "It's like the pet rock. Why is it so popular? Nobody knows."

But, she admits, she's now a Silly Bandz convert.

"Even I can't resist," she said. "I took one for myself. They're so cute."

Earlier this month, A.C. Moore sponsored a workshop so children could make a personalized holder for their Silly Bandz. Store associates said lines were out the door at locations in Raleigh and Cary.

"We were running out of supplies and had to send kids to other stores," said Fatima Nachet, a manager at the Cary store.

At $4.99 for a pack of 36, Silly Bandz are easy collector's items, said Jessica Gallo, marketing manager for A.C. Moore.

"They're fun, they're cute and they're at a relatively low price point," she said. "Kids can express individuality and interests through the bands they wear."