I’m looking to integrate electronics/robotics into clothing using the Arduino Lilypad. In the description of the Arduino LilyPad Power Supply (RB-Spa-73), it says “Pop in a AAA battery, flip the power switch, and you will have a 5V supply to power your LilyPad network.”. AAA batteries supply only 1.5 or 1.2 volts, so is it really possible that this product could automatically convert this to 5V output?
The description is accurate. There is a metal holder for a AAA battery; insert the battery, flip the ON switch, and the onboard circuit steps up the voltage to ~5V. Take a look at some other, more powerful power regulators - most regulators allow you to step down voltage, but some allow both step up and step down.