Two weeks ago or so I read a post about a pretty cool software on TUAW.com that I immediately downloaded to try it. What software that was? An app called Poladroid (currently there is only a beta for Mac OS X but they are also working on a Windows version) that allows you to simple drag your photo onto the icon of the app and it will start processing your photo as a Polaroid. It will start out as a blank Polaroid, just as it would when you use an actual Polaroid camera and it will start processing from there, slowly revealing your photo, which you can speed up by shaking the Polaroid.
It really is a very fast and convenient way to transform your photo into a Polaroid. I also like how it affects the colors of your photos, making it feel so much more realistic. The most pressing thing that is missing right now is the ability to choose the area it should crop to for the square size of the Polaroid. Here are some more examples of my photos transformed by Poladroid:
and the originals:
If you want to see more, feel free to check out my flickr set.