UPDATE: “Decathlon, manufacturer of the 2 Second tent … is shuttering its U.S. operations. They’ve also issued a product safety recall for all their 2006 tents due to extreme fire hazard.”
2 Second Tent Recalled U.S. Operations Shuttered – GetOutdoors.com
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original post – Oct. 11th, 2006
Years ago I saw one of these tents that accordion into a bundle.
It did not work at all.
But the latest generation from Quechua looks like the real deal: “when thrown in the air, it deploys into full form before reaching the ground.”
Repacking takes much longer.
(via Tech Blog – Top 10 Strangest Camping Gadgets)
photos on Flickr – Warren Long
besthike.com 
My sister has one of these (she plucked it out of a recycling bin, someone had thrown it out). She brought it up to the lake this summer. I expressed an interest, so they threw it onto the lawn and it did pretty much pop into a fully set up tent. THEN, I watched, and took lots of photos as they attempted to remember how to get it packed back up again. Really funny, watching them read the really poor instructions and try to translate them back to reality. Yes, they had it packed up again with half an hour. Next time, it will go much faster. Note that packed up it is still the size of a hula hoop. Not the kind of thing you can fit in a backpack. Photos available on request!