Naw, it wouldn't work on the Wii. The Wii doesn't have the ability to sense where the remote is in space, it just senses where it is pointing at the screen, how it is rotated, and what direction it is being accelerated in. (But not in a manner which is accurate enough to determine position.) So you couldn't detect if someone was holding their hand out to their side, or above their head.
But it could definitely be made to work with the EyeToy on the Playstation, or with a web camera on a PC.
But it could definitely be made to work with the EyeToy on the Playstation, or with a web camera on a PC.