This has got to be one of the coolest applications I’ve ever seen, Poladroid. Essentially you install the application, launch the app, drag n drop a jpeg photo onto the Polaroid, and the app does the rest. Apart from the cool photos you get, the best part is watching the film ‘develop’.
Check out the video of it in action and then go download a copy and have a play.
Oh and sorry for you Windows guys and gals, it’s a Mac application only at the moment. And lastly, thanks to @fanbloodytastic for the heads up on this.