Spatial Video recording can be enabled by going to the Settings app, tapping into the Camera section, selecting Formats, and toggling on "Spatial Video for Apple Vision Pro."
Apple says that for best results when recording Spatial Video, the iPhone should be held stable in landscape orientation while capturing video. Video is recorded at 30 frames per second at 1080p, and one minute of video takes up 130MB of storage space.
Spatial Videos taken with an iPhone 15 Pro can be viewed on the iPhone as well, but the video appears to be a normal video and not a Spatial Video. Spatial Videos feature a "Spatial" label to denote that they can be viewed in 3D on the Vision Pro.
On the Vision Pro headset, Spatial Videos are not shown full screen by default. If you expand the video, Apple warns that the video "has excess motion" and "could cause discomfort if expanded."