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In this paper, we propose a new method for detecting and extracting moving objects from moving stereo camera. Our purpose is not only estimating motion of the camera and objects, but also extracting colors and shapes of detected objects from stereo video streams. Camera motions are calculated from three-dimensional optical flow, and the moving object is detected using images corrected in accordance with the camera motion. Experimental results show that, when the camera moves horizontal or rotational, we can estimate the camera motion and object movements by our method. We can also extract color and shape of the moving object, simultaneously.