Have you seen this new app Cinemagr.am?
It’s pretty great. It uses your iPhone video camera to record a short video. Right as you press record, it also takes a photo. After you capture the video you choose which area of the photo to display the video on. It’s almost a reverse editing process. Very cool! Check out what it can do:
Check this site for some great examples of what it can do.
It’s free in the app store.