This is Elephant’s Dream. It’s an open-source movie project that has been going on for about a year. The production team made everything they used in the movie publicly available- from the models they used to the sound effects. They also have a DVD for sale.
Not only would the movie be made using Open Source software, but the contents themselves were to be Open as well: all of the digital assets and production files are released under a Creative Commons license, allowing everyone to see how the movie was made, make changes to it and create a new, derived movie. This will be an invaluable archive not only for the Blender community, but for the 3D community in general.
blendernation blog: http://www.blendernation.com/2006/05/18/the-worlds-first-open-movie-released/
Have a nice day