Remember when this happened? Well, this just happened, too.


What is it?
Firstly, this is indeed a hologram. People have done home made versions of this device, which just needs an iPad or smartphone and an app. It's basically just a clear pyramid.



Some companies have also started making commercial versions of these devices:



How was it made?
The Akira dance is a fan made project by members of the MMD (Mikumikudance) community. MMD is a freeware animation tool originally made for Vocaloid idol Hatsune Miku. Basically, the community make 3D models of their favourite characters, usually various anime waifus, and animate them dancing. You can save a dance sequence and use it for other characters as well.

I want to play!
MMD program download. The program comes packaged with a few Vocaloid character models, but states commercial use is forbidden.

http://www.geocities.jp/higuchuu4/index_e.htm

What about the 3D models?
The Akira model was created by Nicovideo user Gekou, and there is a download link provided. This user has also created Sarah, Kage, Jeffrey and Wolf models.

http://www.nicovideo.jp/watch/sm23096963

Cool moves, bro!
Also, someone else on Nicovideo named Watson choreographed the entire VF2 intro.



Huge thanks to @El_Twelve for the background information.