A year long pass to DisneyWorld in Florida......you can buy park pass only or add water park passes for an additional fee. I have had an AP for years and wouldn't be without it!!
For those who live close and travel often it is a great buy. If you live further away (upstate NY for me) it is a great idea if you can take advantage of AP room rates and get in two or three trips on one pass. We buy a new pass every other year and take two trip on each pass. The room rates can make it worth it. This trip we got the Boardwalk for $259 instead of $370/night. Besides we are heading back in November to met my sister's family and might try to sneak in one more in the spring before the pass expires.