A new app from the team at Instagram hit Google Play this morning, called Boomerang. With it, users create interesting forward and backward videos, offering cool effects from whatever you might capture.
Boomerang shoots a clip of whatever you want, plays the clip forwards and backwards, then loops it in an attempt to create something unique and interesting. The loop itself is made up of 10 still images, giving the videos a GIF-like effect. These shots can then be posted to Instagram or wherever else you may want to share it.
From what I can see, there are no filters, since you can easily share the clip to Instagram and apply filters there.
The app is now available on Google Play.