A little while ago I decided it might be neat to get a small parachute and use my giant slingshot to launch my GoPro and parachute into the air. I have a few different sized parachutes on order to actually try this idea and see if it's any good, and while waiting I decided to see if anyone has already tried this. I haven't seen my specific idea just yet, but I did come across this doodad, the Birdie:
http://www.gizmag.com/birdie-gopro-throw/42815/The idea with this one is that you throw it in the air and it will give you great footage of the ground rushing up to hit you.
While I think my idea is better, I can see how this one might also produce some interesting footage.
Def