Zeltiq is the new spot fat reduction method currently undergoing FDA trials. It works by cooling the fat cell until just above freezing. The fat cell then crystallizes and dies over the course of several months and is evacuated by the body. It takes time to see the results and they may not be dramatic, but for the healthy person who has just a bit of fat they can't get rid of, Zeltiq may be a good non-surgical alternative.
Zeltiq uses the principle of cryolipolysis which is tissue selective so that the skin, nerves, and blood vessels aren't damaged. After prolonged cold exposure, the fat cell dies due to apoptosis - the cell has an inflammatory response to the cold which results in the gradual release of lipids. Over a period of 4-6 months, the dead fat cells are removed through the body's natural processes and the results can be seen.
The change is not a dramatic one, but it is noticeable, and for those who work hard to maintain their physique but can't manage to lose fat in a particular area, this may be the right solution.
According to a presentation from Dr. Christopher Zachary, Professor and Chair of the Department of Dermatology at the University of California at Irvine, "The interim results from this initial multi-center study of love handles demonstrated that the Zeltiq cryolipolysis procedure provided a significant fat layer reduction with minimal subject discomfort."

Zeltiq Results of Dr. Christopher Zachary