Three things come to mind when you think of the brand Ferrari: red, fast and expensive. Maybe, even Italian. Ferrari wrapped up its 2011 World Design Contest that pitted designs students from over 50 schools from around the world to design a "hypercar whose design reflects social changes and technical innovation without sacrificing the brand's performance and iconic appearance." Three South Korean design students took first place with their Ferrari Eternity concept car — the future of Ferrari. Excuse us, while we wipe the drool off our chins.

Even in the age of neon-laced Tron revivals, it's clear that the art of steampunk is here to stay, and may even begin to find its way into real world products.

Are you looking for a vehicle with the convenience of the bike and the ridiculousness of a unicycle? Well, say hello to the YikeBike!

Back in May, we showed you the winner of DARPA's XC2V crowd-sourced military vehicle competition, which supposedly was going to get turned into a fully functional prototype by June. Well, it's June, and in a remarkably non-governmental display of punctuality, they've actually gone and built the thing.