Kakashi Hatake developed his own version of the Mangekyo Sharingan during the timeskip. Kakashi uses his to create a localized interdimensional space-time warp jutsu called Kamui, allowing him to target any object and send it to another dimension. The attack requires considerable effort to aim precisely and appears to leave Kakashi's chakra significantly drained; he collapses after using the technique three times in a single day (compared to his other original move, Lightning Blade, which he can use four times a day).
The appearance of the pupil and tomoe in Kakashi's Mangekyo Sharingan differ from that of Itachi's; Kakashi's looks more like a pin-wheel. Before this was shown, it was thought that one had to kill their best friend to acquire the Mangekyo Sharingan, yet this has been dissproven in both Kakashi and Sasuke, as Sasuke did not kill Itachi persay, but rather the traumatic effect of loosing Itachi after discovering he was really trying to protect him caused his Mangekyo Sharingan to activate, while Kakashi states that everyone he cared for was already dead, and had been for years and he had not activated his Mangekyo Sharingan. Currently the cause of his Mangekyo's activation is unknown.