Bet they won't give them back. From Reuters: 

TALLAHASSEE — School administrators hoping to reward students for their A+ fund-raising efforts at a Florida elementary school unwittingly gave them R-rated gifts, officials said.

School officials at Jay Elementary School in the Panhandle on Wednesday were trying to collect more than 100 bracelets distributed to students involved in a fund-raising drive after pictures of naked women were found hidden beneath the bracelets' cloth coverings.

Known as slap bracelets, the accessories were handed out to about 160 students. One curious child removed the cloth cover to expose the springy, recycled metal measure tape used to give the bracelet its grip.

Along with inches and centimeter marks, the tape included pictures of partially clothed and nude women, Santa Rosa County School District spokesman Bill Emerson said.