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At long last, Facebook has announced the addition of a shared photo albums feature, which enables multiple users to contribute images to the same album. This will come especially handy for vacation and event themed photo collections. The creator of the album can invite and remove contributors, and set the privacy level (Contributors Only, Friends of Contributors or Public). Contributors can add and tag photos, edit the album and add other contributors; but they may only edit or delete the photos they've uploaded. The owner of the album can delete any contributor's photos. When a contributor is removed, they'll be able to delete the photos they've added to the shared album from their activity log.
Website: Facebook | Shared Albums