Designed for Burning Man (of course), the coat has LEDs on flexible circuit boards, which are wired with ribbon cables and hotglued to the coat. It's tied to a video processor that converts video signals into RGB signals for the display, and the video comes courtesy of an iPod or other media player.
The only downside? The resolution, 160x120. On the other hand, you do get to wander around weirding people out by displaying anything you want on this coat. We have a few bus stations we'd like to wear this thing at...wait, that came out wrong.
Video of this magical technicolor dream coat on the next slide.
[ via the men in coats at Technabob ]