Adafruit: LED Strip LPD8806
Adafruit LPD8806 http://adafruit.com/products/306
This is an LED strip housed in waterproof material with 32 LEDs per meter. The LEDs are controlled by shift registers using LPD8806 controller that controls two LEDs at a time with pulse width modulation. This chip has built in 1.2 MHz high speed 7-bit PWM for each channel which relates to 21-bit color. At each end is a 4-pin JST connector which is sealed in the 5 meter version. This needs to be powered by a 5V power source and should not go above 5.5V.