Beta lights or Isotopes as we know them are usually a small glass phial, the inside of which is lined with Phosphorus.
The phial contains an isotope of hydrogen called Tritium gas.
Tritium (symbol T or 3H, also known as hydrogen-3) is a low emission beta emitter, beta particles are not considered dangerous as they are not able to penetrate the skin, however they are dangerous if inhaled or consumed.
The beta particles cause the phosphor to glow hence the light, however Tritium is generally accepted to have a half life of 12.32 years (i.e it takes 12.32 years for half the energy of the Tritium gas to be released and another 12,32 years for the next half and so on), this is why the light emitted will slowly reduce over time until you can hardly see it.
Tritium production is restricted; I believe this was done during the Salt 2 agreement, Tritium is used in multi stage hydrogen bombs as it boosts the yield in a fission primary explosion.
Naturally occurring Tritium is extremely rare so all of the Tritium that we will come across has been manufactured in nuclear reactors.