Is there such a thing as meditation beads?

Yes, the beads are called Mala. They are used to aid mantra meditation mostly, I believe. As you pass each bead, the mantra is repeated. The beads are usually in strings of 108, or a smaller multiple of 108 (54, 27). So it's used sort of like a Catholic rosary, helping you to keep track of how many times you have repeated a mantra.
108 beads is usually a rather long necklace, that you often see monks wearing. smaller number of beads might be in the form of a bracelet instead.
I don't practice this form of meditation, so you might want to research the proper uses and mystical properties of the mala beads, if you're thinking of using them in your own meditation.

lots of holy men and sadus in India have meditation Called Japa beads.

Used in the form of a necklace or bracelet for silent meditation - often called Japa Mala.

Many consist of a special number of beads [108 is a preferred number] and also many contain a central turning bead where the mala is turned in the hand and the count continues.

You can also use mala to act as a chant marker by moving each bead as you chant. Also useful for meditation to help the mind to let go.