Kinect was launched in North America on November 4, 2010. In a nutshell Kinect is Microsoft's version of the Nintendo Wii. The coolest thing about it though is your body becomes the remote. The Kinect is completly remote free. Based around a webcam-style add-on peripheral for the Xbox 360 console, it enables users to control and interact with the Xbox 360 without the need to touch a game controller, through a natural user interface using gestures, spoken commands, or presented objects and images.
Theres a good amount of games available as well. Check out http://kinectgamestore.com/ for a list.