To be invented, my favorite small invention of the moment is the humble push-pin.Nanotechnology
However, the hottest trend in inventing small things is definately nanotechnology. Nanotechnology is the control of matter at dimensions of roughly 1 to 100 nanometers (tiny). A nanometer is one-billionth of a meter; a sheet of paper is about 100,000 nanometers thick. Numerous products featuring the unique properties of nanoscale materials are available to consumers and industry today. Most computer hard drives, for instance, contain giant magnetoresistance (GMR) heads that, through nano-thin layers of magnetic materials, allow for a significant increase in storage capacity. Other electronic applications include non-volatile magnetic memory, automotive sensors, landmine detectors and solid-state compasses.
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