This is a rocket launch with an Estes B6-4 engine. I slowed down the video to 10% normal speed, so that the aerial footage really shines. I filmed this in 720P HD with a keychain camera #16 808 that I purchased from this really nice fellow on Ebay from Hong Kong. Enjoy and please feel free to check out my other videos too!
IrixGuy's Keychain Camera #16 videos - http://www.youtube.com/playlist?list=PL4B35C70BD0DF6E8E