I have been told about this product called Bike Alive.
Bike Alive is a SAFETY DEVICE to mount on bicycles in both left and right-hand traffic to encourage passing motorists to give the rider more space. It is INVENTED, DESIGNED and MANUFACTURED in NZ.
It consists of a rear tail-light behind the saddle and at the end of a flexible stalk, as well as an auxiliary head light and side light. The stalk can be raised horizontally towards the passing traffic, or lowered when pack-riding or in tight slow moving traffichttp://www.bikealive.co.nz/