MS Labs have had a project in the works for some time now that is able to make a 3D environment based on a collection of 2D pictures of a certain place or object. Now, don't get me wrong. This isn't an environment like in a 3D game, and it is not a 3D image model, but something in between.
It works by extrapulating certain types of data from the images, which becomes part of what Microsoft calls the "image DNA". This is then matched against other images where overlaps may occur. The images can then be morphed together to form more complete images, or you can "zoom" in to more detailed images.
In theory, this type of software can be used to find resources on the internet with similiar images when doing searches. But in the mean while it will let you have fun taking hundreds of pictures of your home and surroundings and creating your own digitized world. If you think this sounds interesting, check it out and see for yourself.