Stereoscopic vision is what we, as animals with two eyes, have.
If you were a cyclops, you won't have stereoscopic vision. What it would mean to you? That you may be unable to perceive depth. You would miss the z coordinate, and only x and y would exist for your only big eye.
So now that you feel much happier because you're not a cyclops (in case you aren't), you can expand your knowledge on stereoscopic vision reading the definition of Wikipedia on this, but basically it's what I've told you.
Stereoscopy.com is a website dedicated to stereoscopic images (photos mainly). 3Dme is another one, that contains many resources to get deeper in this matter.
The most cheesy devices used for achieving 3D video are the horrible two colored glasses that most of us used when watching 3D movies that appear on TV. Yes, those glasses made of cellophane and cardboard.
Some others are more sophisticated, and look like normal sunglasses but if you take them on, when using an special projector, you can watch virtual worlds, games, and videos in real 3D. You notice it because if you move, you see objects with depth, like if they had real volume.
The most affordable device I found for something similar is done by one of our sponsors, eDimensional:
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