The Bluetooth-enabled, multisensory playset uses iPad apps to help children interact with a variety of fun games, each of which helps them learn to read, write, and communicate. The system also incorporates physical smart letters, which children place in the playset and then watch the letters and words appear on the screen.
We don't see the Apple.com listing yet, but Square Panda is also available for $39.50 on Amazon after applying an instant $10 on-page coupon.
Update July 18: Square Panda is now available on Apple's website, while the $10 Amazon instant coupon has expired.
Note: MacRumors is an affiliate partner with Amazon.