Minecraft is a first-person fighter/sandbox construction game created by Mojang AB.
I have no idea how capes will work.. we've got some ideas, but for now it's only for mojang employees. It's implemented much like skins are. I made this in my free time last night. They're very animated!
I'm thinking they should belong to your texture rather than to what you make in the game, kinda like a clan tag. but yeah, this is too neat to just keep to ourselves, even if I like the exclusivity. ;D
--Notch on Twitter.