I wish I new the story behind the Japanese Lantern Signal; but alas, the Think Up Studio provides no background. What is clear is that -- while they may not be quite as durable as the usual crosswalk lights -- they would do a wonderful job of brightening up busy streets.
Cantilevered from the lamppost at an intersection is a stiff metal arm. Suspended from this is the set of decorative paper lampshades that traditionally have a festive and ceremonial sense about them. The top one features red material and the bottom is made in green. The Japanese Lantern Signal would illuminate the upper light to instruct pedestrians to stop, and the lower light to say that it's safe to cross the road.