Action Movie FX is a free iPhone app that can add action to any video you record using an iPhone or iPad 2. It comes with two effects (missile strike and car crash). Additional effects bundles are available for 99 cents each.

Video clips need to be at least five seconds long. You can choose where the effect should start in the clip. Clips with effects can be shared directly via Facebook or email. You can also save the clip to the iPhone’s photo album. I added the title in the clip embedded above using Apple iMovie for iOS.

The app appears to be some kind of tie-in to the Mission Impossible: Ghost Protocol that just opened.

So, there you go. This app can add a bit of action to any of your New Year’s Eve and New Year’s Day video clips.