This beautiful work of animation is done by a fellow named Nelson Boles. I couldn't find out too much about this film, such as what was used to animate it, or even much info on Nelson himself, other than he was/is a student at Calarts.
You can also check out his Vimeo profile HERE,
and some more of his animation on Youtube.I just posted this video up on CGHub's Recent Articles for everyone to see, but I loved it so much I had to post it on my blog as well. So if you frequent the Hub, sorry for the double posting. And if anyone knows more about Nelson, feel free to fill me in on this talented little fellow.