It's called the Lytro, and it uses something called "light field technology." In short: You shoot now and focus later.
NPR's resident photo expert, Keith Jenkins, explains: In a nutshell, he says, this camera captures not only the color and the intensity of light — which is what normal cameras do — but also the direction of that light — from every possible angle.
Still confused? We are, too.
The best analogy came from Lytro CEO Ren Ng, who made a musical analogy. Let's say you like a band, and they're great live. But say you want to record them. You generally don't just stick a mic in the middle of the room and hope for the best. You record each band member — and sometimes even their instruments — separately in a studio. That way, when you're mixing it all together, you can control every element.