It's not near as cool as the WoW character model-creator, but thought I'd mention this:
There is a free "City of Heroes collectible card builder" (you just provide a screenshot a certain size, and it creates one in PDF form):http://www.cohccg.com/cardbuilder
It's been around since late 2005, but is not really publicized by NCSoft or anybody really. There are a couple different variations (I prefer the ones that let you use a larger image (see below).
Here are a few of mine (though I no longer subscribe):
Metal Mandroid (Energy/Energy Blaster)
Dr. Barium (Empathy/Radiation Blast Defender)
Crusasder (Assault Rifle/Devices Blaster)