Minecraft Console Edition 1.8.8 Launches today with a Huge Update! It has so many things added, we have a giant list below:

New items for all modes

Armour Stand
Raw Rabbit
Cooked Rabbit
Rabbit Stew
Raw Mutton
Cooked Mutton
Rabbit’s Foot
Rabbit Hide
Potion of Leaping
Potion of Water Breathing
Salmon
Cooked Salmon
Clownfish
Pufferfish
Blue Orchid
Allium
Azure Bluet
Tulips
Oxeye Daisy
Sunflower
Lilac
Poppy (replaces Rose)
Rose Bush
Peony
Double Tall Grass
Large Ferns
Prismarine Crystals
Prismarine Shard

New items for Creative Mode

Rabbit Spawn Egg
Endermite Spawn Egg
Guardian Spawn Egg

New blocks

Podzol
Granite
Polished Granite
Andesite
Polished Andesite
Diorite
Polished Diorite
Prismarine
Dark Prismarine
Prismarine Bricks
Red Sand
Red Sandstone
Smooth Red Sandstone
Chiseled Red Sandstone
Red Sandstone Stairs
Sea Lanterns
Wet Sponge
Slime Blocks
Coarse Dirt
Packed Ice
Acacia Saplings
Dark Oak Saplings

New mobs

Endermite
Guardian
Elder Guardian
Rabbit
Chicken Jockey

New biomes

Mesa
Mega Taiga
Roofed Forest
Birch Forest
Forest
Savanna
Extreme Hills+
Deep Ocean
Snowless Taiga

More features that I’ll list using bullet points to save bandwidth

-Treasure can now be caught while fishing. There are a lot of cool things to find!
-Enchanting now consumes Lapis Lazuli, and enchanting books can receive multiple enchants at once.
-Villagers now have additional professions, and will harvest crops and breed. To encourage that kind of behaviour, give them 3 bread, 12 carrots, or 1 potato. They’ll also turn into Witches when struck by lightning.
-Now any rectangular shape from 4×5 to 23×23 will work as a Nether Portal. Ghasts can travel through them too.
-You can use Pumpkins or Wither Skeleton Skulls to spawn Golems and Withers.
-We’ve rebalanced the Anvils.
-Moss Stone, Mossy Stone Bricks and Chiseled Stone Bricks are now obtainable via crafting.
-You can now use a furnace to create Cracked Stone Bricks and Sponge.
-Empty Furnaces will now only accept fuel and empty Buckets in the fuel slot.
-Item Frames now emit a Redstone signal, and can rotate in 8 directions.
-Redstone comparators can now detect the rotation of an item in an item frame and output an equivalent power signal.
-Buttons can now be placed on the top and bottom of blocks.
-Powered Activator rails now dismount entities riding Minecarts.
-Water-filled Cauldrons will put out burning entities, taking away one water level each time.
-When harvested with Silk Touch enchantment, Huge Mushroom Blocks drop blocks with corresponding Mushroom texture (red or brown) on all sides.
-We’ve reintroduced Sponge to Survival Mode with new behaviour and texture.
-Sugar Cane colour is now affected by biome.
-Baby Zombies now drop XP Orbs.
-Creepers can now be ignited with Flint and Steel.
-Adult Zombie Pigmen will now forgive after a short time.
-Witches now drink a Potion of Water Breathing when they are trapped underwater and can drop a Potion of Water Breathing upon death.
-Melons can now be found in patches similar to Pumpkins in the Jungle Biome.
-Swamp Biomes now feature Blue Orchid Flowers.
-Plains Biomes now generate Azure Bluets, Oxeye Daises, Tulips, and Double Tall Grass.
-Extreme Hills Biomes now feature Snow at higher elevations.
-Ocean Biomes now only feature Gravel on the floor instead of Sand, Dirt and Gravel.
-Desert Temples spawn with Stained Clay instead of Dyed Wool.
-Ocean Monuments now feature.
-New enchantments – Luck of the Sea (I-III), Lure (I-III), Depth Strider (I-III) -have been added.

More fixes and tweaks which subtly make the game more enjoyable

-Sheep now drop Mutton when they die.
-Arrows decelerate more quickly underwater and extinguish if on fire.
-Most mobs can now swim.
-Skeletons flee from wolves.
-Creepers, Skeletons, Wither Skeletons and Zombies drop their heads when killed by Charged Creepers.
-Spiders no longer see players through solid blocks.
-Baby mobs growth can be accelerated by feeding them.
-Fix for players adding additional layers above the maximum height in Superflat.
-Added Flint and Steel and Fire Charge sound effect when igniting blocks.
-Updated audio for Cows and Mooshrooms.
-Updated audio for Minecarts.
-Created a new Tutorial World.

Source