Dust: An Elysian Tail, an entry in Microsoft's XNA Dream Build Play competition, is not only the best looking video game we've seen from the contest, it might be the best looking downloadable Xbox 360 title ever.
In fact, I'm having a hard time believing it's playable. But considering Dust: An Elysian Tail appears to be based on the animated film Elysian Tail, likely giving the developers access to top notch animation, I'm willing to suspend disbelief.
Watch this gorgeous teaser. Don't let the XNA thing frighten you.