ESP8266EX and even the new ESP32 SoC lack a USB hardware transceiver, so [CNLohr] decided to develop a USB software stack for ESP8266. After a quick search, I think it is the first try to do a USB software stack for esp8266. USB software stack is a firmware-only implementation of a USB. ESPUSB works in a similar way of V-USB for AVR MCUs.
This USB Stack uses D- on GPIO 4 and D+ on GPIO 5 and only operates with low-speed USB. To run ESPUSB on ESP8266 it will need about 317 byte of SRAM and 1422 byte from flash/IRAM.[CNLohr] said that he could flash ESP8266 using the ESPUSB. [CNLohr] described in a video the code of ESPUSB and how he developed it.
UPDATE(2/8/2016): [CNLohr] published a tweet, containing a photo of a PCB module for ESPUSB, it’s a small stick that can be plugged into USB directly. It uses ESP8285 SoC, same as ESP8266EX one but with built-in flash memory.
He also uploaded a video on Youtube showing the new PCB plugged into his laptop which is detected as HID mouse device using the ESPUSB USB software stack. He controls the mouse pointer over WiFi using an application from his phone.