This effect simulates (closely) the iOS 6 camera app, both the still image and video camera functions.
It has been setup to work with all SD, HD, 4K & 5K resolutions at all available frame rates from 23.98 to 60fps in FCPX. However for non 16:9 projects post/pillar boxes are added.
It also has a PDF file inside the folder. This folder, as downloaded from the link below, should be put inside a "Custom" named folder in your "Effects" folder inside your "Motion Templates" folder in your "Movies" directory.