The Lens Kit holds up to two lens. The way it works is that you have one lens on the kit and one on your camera. When you want to switch between lens you take the lens off your camera, put it on the kit, spin the clip around, take off the other lens from the kit and put it on your camera. This takes only a few seconds and with a bit of practice you can even do it one handed.
For me this is a great tool for shooting events. I'm usually switching between wide angle and medium telephoto quite frequently and before buying this kit it was a bit of a hassle. I'd tried various tactics but this one is the solution I was looking for. Using the Lens Kit means I only have to use one camera because swapping lens is fast and safe. I can often leave my gear bag somewhere safe with just one camera and my two lens while I mingle in what is usually a busy crowded area.
After using this kit at several events I can say that I'm pleased with its performance and it works well. Problems I had with it were: Getting used to using it, getting skin from my finger trapped in the rotating section more than once and food from the usual buffets at events fall into the the top of the clip. Nothing's perfect but this is by far the best solution I've used.
You can wear this clip with most styles of clothing and doesn't look ridiculous with a suit if you're having to dress formally. You will need to be wearing a sturdy belt if you want to clip it to your waist. It's possible to have it hanging from a Peak Design strap if you don't have a belt but I find that gets in my way. Still it's an option and it might be great for your way of working. Another option is to clip the kit to the outside of your bag, possibly on the strap if you bag has no other anchor points and work from there.
You can buy the Lens Kit on its own if you've already got the Peak Design Capture Clip or you can buy it as a set if you don't. I already have a Capture Clip Pro so I was able to save a bit of money and buy the Capture Lens on its own. You'll need to be using either Nikon, Canon or Sony lenses to be able to use the Capture Lens, at the time of writing these are the only systems supported.
Below is a video that shows how to use the Lens Kit with the Capture Clip.
If you want to know more about the Lens Kit then head over to the Peak Design website at this page: https://www.peakdesign.com/lens-kit
Or for the full kit that includes both Capture Lens and Lens Kit check out this page: https://www.peakdesign.com/capturelens/