Newly "Beta 5 approved" according to AppVision Product Director Mark Chamberlain, Neon Wallpaper for iPad lets you create backdrops for your new device. As this video shows, you can combine elements of pictures and text to build your own personalized wallpaper. This, like so many App Store offerings, is going to be a "matter of taste" application. Either it does exactly what you want, namely to create strongly styled images, or it does not and you'll give it a pass.
The reason this video jumped out at me is how the AppVision developers took advantage of the iPad's large screen space to lay out a complex tool space. There's nothing really novel in terms of their choice of interactive elements (also called "controls") -- they are quite standard SDK offerings -- but the app showcases how many of them you can put onscreen at once while keeping the interface relatively uncluttered.
Is this an app that I'm dying to start using? Honestly, no. I did, however, appreciate the peek into how this workmanlike application made the jump into the iPad design space, and I thought that you might too. There are 9 million custom wallpapers in the wild, according to their marketing material (no word on actual install customer base) due to Neon Wallpaper, so who am I to pass a call on taste?