Disclaimer: actually released last year, but currently doing the rounds on the CG news sites.
Boinx Software, known to animators for its iStopMotion software, has released a panorama-creation app.
The excitably titled You Gotta See This! simply requires the user to start recording and pan the iPhone slowly around, automatically generating a panoramic image.
With output formats including a tiled mosaic and various David Hockney-esque collages – sadly, it doesn’t seem to be possible to create a stitched image – it’s more for fun than professional use, but at just $1.99, it’s hardly going to break the bank.