A company called Spicebox is currently raising money on Kickstarter to create Mauz, a device that turns your iPhone into a computer mouse that is simultaneously aware of its movement in 3D space.
As explained in the company's pitch video, it's like "plugging a computer mouse and a Wii controller into your phone, then adding a touch of Kinect."
Take a look at the video below to see how it works. If you like what you see, throw them some money over at Kickstarter >