Ah the old Dreamcast phone thing. Im not sure it does the "receive telephone calls when playing on your Dreamcast" as in while online, as I don't think they had the setup back there to support it. Using a splitter you could have the DC and the phone plugged into the same socket. It is official, but no way in hell worth $99!
I was about to say its fake. Its surely a repackaging of a crappy Chinese handless-phone called "Joy Phone" IIRC, Lik-Sang used to sell it (for $4.99 or something) before they sucked. Looked exactly the same except the case was blue, keys were white, and instead of a dreamcast logo, there was an animated dog, it was pretty funny, I was going to buy it.
The phone is not a fake!...it was a dreampoint item: http://www.dreamcastgallery.com/dc/gallery.asp?selected_dreampoint_id=402 It appears regularly on Yahoo Japan....