The Olympus Stylus Mju 725 sw, a 7.1 megapixel camera with a 3x optical zoom lens and a 2.5-inch LCD that's both shock and waterproof (that's what the "SW" stands for).
ENGADGET: Olympus announces Mju 725 sw, Stylus 730, Stylus 740, Stylus 750, and Stylus 1000