Microsoft has patented the design of an augmented reality pointer, we assume for use with the HoloLens. Currently, the HoloLens mainly uses hand gestures and a clicker, but an actual pointing device would increase the accuracy with which items can be selected and used, and make users more comfortable manipulating items.
The fact that an ornamental design is being patented suggests an actual device is already in the offing and is currently sitting in some lab at Microsoft.
The patent shows a wand with a hand guard and trigger, and what appears to be further buttons on the top surface and would probably work a lot like the video below, which combines a HoloLens with an iPhone being used as the wand.
The patent can be seen here.