Manav talked about an application which simulates actually how Polaroid pictures are created, in fact you can see it getting developed like it happens in labs. Today we found another application, Rollip, which creates a Polaroid by adding some effects and images to convert any of your picture to Polaroid picture in seconds. Here is one sample :
All you need to have an image ready and choose an appropriate design from the gallery. It creates the Polaroid quickly and gives you a link which is used for sharing with friends.