UPDATE from the editor at Evadot on 6/25/2009: It appears there has been quite a bit of controversy over this demo and TED has decided to withdraw this from their site. The details are here I can't come up with anything but: WHOA!. This blows me away.
It's open source. Want the code? Get it here.
Phone hacker Chris Hughes demos an open source software project that makes creating "augmented reality" a cinch. He shows how a virtual object (like a 3D spaceship), in cahoots with live footage, can interact with the real world right through a web browser.