The camera will connect directly to the Pi and offer hobbyists the opportunity to build vision-based applications. The camera is an OV5647 with a fixed-focus 5 megapixel sensor. It can also take HD video. It’s attached to a nice long ribbon that connects directly to the Raspberry Pi mainboard.
You can learn a little bit more about the project right here. Given the popularity of the Raspberry Pi so far, however, expect this thing to be sold out in seconds even if it is just a tiny camera on a PCB. Raspberry Pis are the new Beanie Babies.