My 7 year old got the shoulder banshee. It's really cool, but it doesn't fit him very well (he has a very tall/skinny/lanky body type, and no real substance to his shoulder area). He played with it a lot on the trip, and a little after returning home. My husband played with it a couple of times, as well. I don't feel like it was the best value for our money, but it did make my son really happy at the time, and he purchased it using mostly his own souvenir money that he got for Christmas (I had to pitch in about $12).
My 4 year old, after seeing my 7 year old play with his banshee, decided that he must also have a banshee. Fortunately, I managed to direct him to the banshees on a stick, at the other side of the store. It has a lever on the handle that makes the wings flap. This one was less realistic, less cool, and much less expensive (I think like $13, so very good for a Disney souvenir). Because he was not tall enough to ride things like Expedition Everest and Flight of Passage, he had a blast playing with this toy with other too-short kids waiting for the rest of their families to get off the ride.
Side note: If you decide to buy a shoulder banshee, be aware that there can be quite a line in the gift shop at the rookery, so you won't be able to get one if you have a FP+ or dining reservation somewhere soon after. We had to wait about 20 minutes. However, I also recently read an article about FOP reaching its record wait time of 6.5 hours that day, so that could potentially be related to the rookery wait; perhaps it's not so bad on a less crowded day in Pandora.