There are numerous ways to render depth data captured from Kinect. One option is to use a point-cloud, where each depth value is represented by a pixel positioned in 3D space. In the absence of a 3D display, one of the ways to convey depth for still images is the use of stereograms, as shown below in Figure 1.
In case you are wondering, I'm holding a wireless keyboard to control the image capture. Next I needed to map the texture from the color camera onto the point-cloud, as shown below in Figure 2.
Another approach to simulating 3D without special display hardware (but which does require special glasses2), which avoids the degree of training involved to "see" images such as stereograms, is the use of anaglyphs, as shown below in Figure 3.
Anaglyphs can be adjusted to move the image plane "forwards" or "backwards" in relation to the screen, as shown by the grayscale anaglyphs in Figures 4-6 below.
1In order to perceive a 3D image the viewer must decouple convergence and focusing of their eyes. Looking "through" the image results in four images. The eyes are correctly converged when the two centre images "overlap". At this point the eyes must be refocussed without changing their convergence.
2In order to perceive a 3D image the viewer must use coloured filters for each eye, in this case red (left) and cyan (right).