You won't be able to wear the same duds from toddler to teenager, but a company called Gro Furniture has created a reconfigurable crib that you can theoretically use from the day you're born, until the day you die.
It's kind of like a giant-sized building toy, and by swapping various components what starts as a baby's crib can be re-configured to a toddler's bed, a day bed for older kids, and eventually an adult-sized desk.
Admittedly the desk still kind of looks like a crib, but since the whole system costs around $US1900 you'll want to get as much use out of it as possible. You can also transform a regular crib the same way with a hacksaw and some extra plywood, but reverting it back to a bed if you have kids of your own isn't as smooth a transition as it is with the Gro Furniture. [Gro Furniture via Chip Chick]