The Zero Blaster is an updated version of the Zero Launcher. It has more of a 'ray gun' shape to it than the Zero Launcher, and it also has a ray gun sound effect, which you can switch on or off, depending on your preference. The water based vapour is non toxic.

The vapour ring is called a Toroidal Vortex.

The well known 'Bubble Man' Tom Noddy uses one of these, slightly modified, to produce the 'smoke' that he uses in his stage act. Here he is on German television - the intro is in German, but the act itself is in German - http://tvtotal.prosieben.de/tvtotal/videos/player/?contentId=52233&initialTab=related