There are so many cool things you can do with Kinect! This one's an official research project from Microsoft that takes live depth data from a moving depth camera and in real-time creates high-quality 3D models. The sensor data can be texture-mapped, used for multi-touch on arbitrary surfaces, or used in augmented reality or physics simulations. The best part is the 1mm deep DELL logo it catches and recreates on the back of the monitor.