From lomography.com:

[The Lomo is] a compact, robust, Russian throwback to the fond yesterdays of Socialism and institutional craftsmanship. A relentlessly clicking beastie threatening to overwhelm you with (not so) slightly insane impulses to capture the innate majesty of all things around you. A tool to provide for the true democratization of art – allowing all people to create extraordinary and dazzling portraits of every single facet of their lives.

Nicole719 has one, and ably demonstrates the lovely saturated Lomo style at a fairground in Wisconsin…