This little video shows off what most of the augmented reality features we've seen so far look like; they're cool, but not all that practical or useful. The idea is supposed to be an ad campaign for Panasonic's 3D televisions, so they gave away special AR shirts and a free iPhone app. If you find one of the shirts in the real world, you can point the iPhone app at it, and instead of just the AR code, you'll see an actual animated animal sticking its head out, framed in a Panasonic television.
It's a cool effect, but of course, it's totally cosmetic. You can't actually interact with the animals at all (other than simply taking pictures through the viewfinder and sending them off on Twitter). And it's an ad for a separate piece of tech, so it's nothing to actually do with the iPhone or even Apple. But still, every experiment with AR gets us closer to using the technology for something really interesting.