Then there were those shoes that light up when you step. I had Power Ranger ones, because I was a boss.
I had bright white ones with pink lights. They were awesome.
This was a real fad at my school. Eventually they were banned because they kept beeping in class. My mum took mine to work with her to look after it
I had a denim pair of these! I really thought I was the business. I wore them until the knees and bum had worn out.
beanie babies (Still have all of mine)
Some of my friends were obsessed with these. I only ever bought one or two, but I remember my friends having hundreds of the things.
Other fads:
-Pokemon cards (I think every school had these)
-Yo-yos
-Top Trump cards. These became popular right before I moved to secondary school. I still have my buffy the vampire slayer pack.
-These round pieces of elastic that went around two people's knees, then you would jump in and out of them. The elastic got higher and higher until you couldn't jump without touching it. http://3.bp.blogspot.com/_JNJzt1B8AtE/Ss3tst5p5bI/AAAAAAAACdE/VTH6yYq-tDU/s400/10Village.jpg
-I remember quite a few years where every single boy in the class would turn up to the school disco in http://www.sh-boomm.com.au/images/Flame%20shirt%20purple.jpg
A high school fad was rubber bracelets.