Egos Ventures has Cycloramic (iTunes Link) for the iPhone and iPod Touch in the iTunes App Store for FREE (regularly $1.99) for a limited time.

Cycloramic lets you take panoramic photos and panorama videos so easily, you can do it with your eyes closed. It features a handsfree mode (only works with the iPHONE 5) where you just hit GO and your phone automatically rotates 360 degrees while taking multiple pictures, instantaneously stitches them, generates the panoramic photo and finally opens the panorama and immerses you in our 3D viewer.