'Ambigrams' are words that can be read from more than one vantage point.
For example, the word 'MOW' looks the same when turned upside down:
Also, some words can look the same when viewed with a mirror.
'MOM' has horizontal symmetry, and 'CHOICE' has vertical symmetry:
Not many words have this property naturally, so this is where the true art
of creating ambigram comes in: to create symmetry where there is none.
The word 'symmetry' is not naturally symmetric, but in the example above,
it has been turned into an ambigram, as it now has reflective symmetry.
I have started an ambigram design site at Wordpress,
where various aspects (tips, sketches, resources, etc.)
of the ambigram creation process are covered.
More ambigrams can be found on my Flickr account.