This is only the 2nd time I mention a cardboard or paper based concept in this blog, and I'm already convinced this will become a thing.
Google Cardboard: g.co/cardboard
(or: common man's Occulus Rift)
The accompanying Android app can be found here: https://play.google.com/store/apps/details?id=com.google.samples.apps.cardboarddemo
EDIT: Deal Extreme offers kits for both a cardboard and a sturdier plastic version of this project, for those interested.