iBooks Author lets ANYONE create and share an interactive ibook. Teachers can create textbooks or guidebooks or interactive fiction. Students can write books that keep a focus on the writing process, but include the kind of engaging interactive experiences that we have all come to expect on the web.
Since Apple announced their $14.99 (or less) textbooks* for the ipad there have scores of articles written that summarize the tremendous possibilities. Check them out, or go to the source and watch the full introductory video. The 5 minute iBooks Author demonstration that begins around the 25 minute mark is totally worth watching. You'll see how easily you can go from raw content to creation and publication.
Have fun! Give it a try yourself...then hand it over to your students and let their creativity drive the process!
*Looking at a new biology textbook adoption, but you don't want to spend a fortune? E.O. Wilson's Life on Earth is available for FREE right now.