SpaceX Grasshopper

On June 14, SpaceX's Grasshopper Vertical Takeoff Vertical Landing (VTVL) rocket climbed to an altitude of 1066ft (325m), hovered, then came back down to the ground in a controlled landing - on the pad.

Elon Musk has a dream of future rockets being able to achieve orbit and return to their launchpad to be re-used.

[Update: Since I found this video, the Grasshopper has performed some other neat feats too, including moving horizontally while hovering and yet still coming back to the launch pad.]