Update: Project has been postponed, the coding is proving more difficult than I had anticipated. Once I get more kinks worked out I'll resume full time work on this.

This mod is in planning stage, there is no download. It will not be released until Minecraft Coder Pack for Beta 1.8 is released. Until then, I'll be coding a version of it for 1.7.3, just without the Endermen aspect.

This mod adds a new item to the game - hearthstones. Thanks to the idea from "Sergeant Koopa" on /r/minecraft, you'll be able to teleport to a defined "home" position, which at first, will be your bed location, or where you would respawn in the event of your death.

Planned features:

Some sort of right-click animation similar to how food works. The item may just change colors or perhaps it will float up and into the center of the screen and teleport you - I haven't decided yet.
Will teleport you to your home location, or your respawn location. If you haven't slept anywhere, the hearthstone will not work. It will also not work if the bed you were set to was destroyed.
Will be crafted exactly as depicted in the infographic created by "Sergeant Koopa", which can be found right here.
There will be some sort of cooldown or it will require an item to be used - probably more Ender Pearls.

Expected release:

Soon after the release of Minecraft Coder Pack for 1.8. (Wish Notch would suck it up and release his source already, not sure why he hasn't.)