The VelveTune is a style of machine head (a.k.a. tuning peg) installed on a number of Ibanez guitar models. They are produced for Ibanez by Gotoh.
The VelveTune tuners have a diecast housing and a unique modified kidney shape. They feature a dual-slot post which allows a variety of string wrap styles. The 17:1 gear ratio allows for increased tuning accuracy.
The VelveTune II replaced the VelveTune in 1983, although it's unclear what the difference between the two styles is.