Definition - 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
Because of its keyboard location, the pointer works equally well for left or right-handed users.