Well, this creates a drawing of a carrot which follows your cursor around. However, it is run as a program, so the carrot will only appear when you are running that program. If you open something else, say, JCS, it will go away.
Now, I happen to know it’s possible to fix this problem. And seeing as this doesn’t use any real transparency, just a grab of the desktop, this all adds up to being pretty poorly done. And pointless. Sorry.