If you didn't loot your robot pet from the gift box in 2007, it is now replaced with this Crashin' Thrashin' Racer Controller which is the new present in 2008. You will have two Crashin' Thrashin' Racer Controllers (assuming you pick up the 2008 gift) but no ability to get the robot. A second controller is useless, you can only spawn one Racer at a time.
A commenter on WoWHead claims that a Blizzard GM told him that this gift slot would change yearly, and that the Racer is only available in 2008. (see external links section)
As an object
Patch 4.2.0 (28-Jun-2011): Now contains the Gaudy Winter Veil Sweater.
/ Patch 4.0.1 (12-Oct-2010): Now contains the MiniZep Controller.
Patch 3.3.0 (08-Dec-2009): Now contains the Red Rider Air Rifle.
Patch 2.4.3 (2008-07-15): Now contains the Crashin' Thrashin' Racer Controller.
Patch 2.3.0 (13-Nov-2007): Added containing Clockwork Rocket Bot.
- A Feat of Strength achievement procs when you loot this gift. It is a new Feat of Strength achievement each year (for 2007 and 2008 so far).