I tried this "method" of photographing this afternoon with one of our older, palm-sized digital cameras
Canon Powershot A520 ($175) -- tossed the camera less than 2.5 feet in the air over a King-size mattress with comforter and pillows, and the results are nothing if not interesting.
Would I continue doing this with this camera? Probably not... if I were interested in further exploring the method, I'd buy a nice, small used digicam off eBay at a bargain and have no qualms if something happened to it in the course of fun, creative, artistic experimentation.
Other images for the experimentation are in
my Flickr photo set.