What Does Eraser Pointer Mean?
An eraser pointer is an isometric pointing device that looks like a joystick or pencil eraser head. This cursor control device sits between the G, H and B keys. When the eraser pointer is pushed in one direction, the cursor moves in the same direction. Cursor speed may be increased with increased pressure.
Techopedia Explains Eraser Pointer
In 1992, the eraser pointer was released by IBM as the TrackPoint, which is built into most ThinkPad (Lenovo) laptop computers. Eraser pointer technology allows users to control mouse movements while using a keyboard. Some eraser pointers have a red, replaceable tip, or nipple.
Because of its keyboard location, the pointer works equally well for left or right-handed users.