An incorrect report on N4G yesterday claimed that a new Xbox One mod would allow gamers to use controllers from other consoles on that system.
Gameskinny has properly researched the device, and it is an adapter that requires no hardware modification to use. The device is also compatible on any console that supports USB controllers. 360 pad on the PS4? yes. WiiU classic controller on Xbox One? absolutely. There's even support for Keyboard and Mouse.
A proof of concept video can be found embedded below, contradicting the previous report this was a Xbox One mod.