Star Bit
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A Star Bit is an item in Super Mario Galaxy. Cosmic Toads give them to Mario quite often, and they seem to be the most common items in the game. Every fifty Mario collects, he recieves a 1-Up.
Star Bits come in many colors (red, yellow, green, blue, purple, and white), and are quite shiny. They are first introduced on an Asteroid Planet, as seen in a screenshot. To collect them, the Player must move the Star Cursor over them.
When Mario is flying through space from a planet to another planet, Star Bits often appear around him. To get them, the player must act quick and touch each of them with the Star Cursor until Mario lands on the next planet.
A certain type of Luma eats Star Bits. When fed a certain number of them, the Luma will transform into a new planet and leave behind a pink Star Ring.
Additionally, pointing the Star Cursor at an enemy and pressing the B Button will make Mario shoot Star Bits at the foe. After the Star Bits have been fired they cannot be recovered.
The average enemy, such as a Goomba, will give you three Star Bits when you defeat them.