Both 3D imaging and hyperspectral imaging provide important information of the scene and combining them is beneficial in helping us perceive and understand real-world structures. Previous hyperspectral 3D imaging systems typically require a hyperspectral imaging system as the detector suffers from complicated hardware design, high cost, and high acquisition and reconstruction time. Here, we report a low-cost, high-frame rate, simple-design, and compact hyperspectral stripe projector (HSP) system based on a single digital micro-mirror device, capable of producing hyperspectral patterns where each row of pixels has an independently programmable spectrum. We demonstrate two example applications using the HSP via hyperspectral structured illumination: hyperspectral 3D surface imaging and spectrum-dependent hyperspectral compressive imaging of volume density of participating medium. The hyperspectral patterns simultaneously encode the 3D spatial and spectral information of the target, requiring only a grayscale sensor as the detector. The reported HSP and its applications provide a solution for combining structured illumination techniques with hyperspectral imaging in a simple, efficient, and low-cost manner. The work presented here represents a novel structured illumination technique that provides the basis and inspiration of future variations of hardware systems and software encoding schemes.