The ability to take panoramic photos was touted as a new feature of the iPhone 5, but ability has been added to the iPhone 4S as well. The iPhone automatically adjusts for camera shake using the iPhone's gyroscope and creates up to a 240 degree panoramic image with up to 28 megapixels.
iDownloadBlog has put together this video to show how the Panorama feature works.
Article Link: iOS 6 Brings Panoramic Camera to iPhone 4S