The Robot Arm is a thrill ride introduced in Rollercoaster Tycoon 3's expansion pack Wild!
It is the same ride used on the robotic coasters. The arm also starts thinking ingame when it's opened, saying it's superior to the rest of the rides.
In Real Life
It is based off the RoboCoaster manufactured by KUKA and RoboCoaster Ltd. The most notable example is at Legoland California Resort. The ride itself is named Knight's Tournament and was the first of it's kind to be built.
Uniquely, looking at the thoughts of the ride displays thoughts as if they were coming from the Robot Arm (utilising the ride's name in lieu of a Peep). Quotes include, "(Peep name)'s carbon-based organs repulse me." and, "(Peep name), all your base are belong to me" the latter of which referrencing the popular meme that also references the game Zero Wing.