You can easily use your iPhone to record videos, but if you want to create awesome animated GIFs, the camera app Echograph should be a more suitable for you.
Echograph is a creative camera app developed by Clear-Media, and designed for both iPhone and iPad. The iOS app features simple and intuitive user interface. Just tapping “Create” with your finger you can import your video clip or directly record video in the app for further editing, while using its mask feature you can create awesome animated GIFs in low or high definition, but note that the video app just supports up to 5-second video clips, before rendering you also need to adjust the length of your video. Moreover, the camera app also allows you to share your animated photos with friends via Facebook, Twitter and Email.
Echograph with a size of 44.1 MB is compatible with iPhone (optimized for iPhone 5), iPod touch and iPad running iOS 5.0 or later. The iOS app is free for a limited time at present. If you’re interested, jump to App Store for more details.