Mochi

Mochi is a Japanese rice cake made of glutinous rice pounded into paste and molded into shape. While also eaten year-round, mochi is a traditional food for the Japanese New Year and is commonly sold and eaten during that time.

Mochi from Whole Foods - nutrition information and preparation (click to enlarge the images). This is quite tasty actually. I have tried the flavored variety and the regular one, and the regular version actually tastes better.

Mochi - before baking (left). Baked mochi (right) (click to enlarge the images).

Related reading:

Mochi. Wikipedia.