Your phone does not have four spinning rotor blades that allow it to fly around and shoot 720p video, but the Parrot AR.Drone 2.0 does those things as an extension of your phone. This gizmo costs a pretty penny, but the price has dropped considerably on Amazon. It's just $$236.87 with Prime shipping for the standard version, and $249.99 for the elite edition.

2014-05-29 _ Parrot AR.Drone 2.0 Quadricopter Controlled by iPod touch, iPhone,

The list price for the Parrot AR.Drone 2.0 (both versions) is $299.99, so this is a solid deal if you're in the market for a quadrocopter, and really, who isn't? Just install the app and it connects to the drone for easy control and video recording.

2014-05-29 13_20_27-Amazon.com_ Parrot AR.Drone 2.0 Elite Edition Quadricopter - Wifi - Free App iOS

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Note, this deal is for the drone package with only the one battery. The more pricey one bundled with a spare battery is still close to the original $340 price. You'll only get less than half an hour of flying time with the single battery before a recharge is needed.