Boyalife Group is currently in the process of creating a "cloning factory" that will be set to open in 2020 to clone cows. They are advanced enough in their cloning to even start human replication, but they do not believe the public is ready for that. They have already cloned deceased pet dogs for families, and are capable of bringing the wooly mammoth back to life through saved DNA. There are even cells frozen of endangered species for future generations to recreate these animals.
I find it very strange to bring back extinct animals, but I also think it is pretty incredible that this technology is available to us. Another idea that was mentioned was that they can clone, or create children with DNA other than just the mother and father. For instance, instead of it being 50% mother and 50% father, it could be 100% from one person. Also, it could potentially have three people contribute to the creation of the child. It may be difficult for this to occur due to people's beliefs and bioethics, but it is definitely something that is not far fetched.