Use your iPhone as a webcam
Mac developer Ecamm has posted a sneak peak of iPhoneCam, an application that uses your iPhone's camera as a wireless Mac webcam. You can stream video from your iPhone over its WiFi to any Mac video application, including iChat, Photo Booth, or Skype.
I have participated in one iPhone chat and while it's not exactly the most comfortable way to use a webcam, you've got to admit using an iPhone is way up there on the cool quotient. You can watch a demo video here.
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