PhotoSynth Technology Preview
Check out the latest from Microsoft Windows Live Labs -- Photosynth Technology Preview. The basic and the very interesting thing is that it just seems to use simple images and try to create a three dimensional model effect as the description goes.
It needs an ActiveX Control which gets installed the first time you visit the website to proceed. And hence the basic web browser that it can run is 'Microsoft Internet Explorer 6.0' and/or higher on Windows.