MacChampion has come up with a competing mouse pointer enhancement, to Boinx Software's Mousepose - Pinpoint.

Although, Mousepose does an arguably better job at highlighting a point and is particularly geared for training purposes, Pinpoint works magic by turning our common Mac OS X mouse pointers into cute representations of self. From simple geometric shapes to a little mouse that holds its outstretched hand to point at the element in contention. Pinpoint appears to ship, equipped to entertain. There are also transparency options and the option to colorise your mouse pointer cursor; along with a preview window that allows you to determine the placement of your Pinpoint cursor in relation to your default Mac OS X mouse pointer.