Project Google Glass (sometimes referred to as "Project Glass") is one of the most inovative feats the search Giant has undertaken. It is the idea of a wearable accessory (much like glasses) that will allow you to interact with your device and surroundings through augmented reality.
We have already seen working prototypes. It is only a matter of time before the wraps are taken off and we learn more. The Google Glass Explorer Edition has already gone up for pre-order to Google IO 2012 attendees, though. They will be shipping by early 2013, when we should learn much more about the product's full potential.