THQ's announced Saints Row: Initiation Station, a free character-creation system that will allow you to create your character for the upcoming release of Saints Row: The Third.
THQ says you'll be able to create characters "inspired by your favorite downward-spiraling train wreck celebrity, prima donna professional athlete, or as Steelport’s newest costumed superhero (or villain)."
Characters can be shared with friends, but you can also download other characters from other players and tweak them as you see fit.
You'll also be able to collaborate with your friend to create a "dyanmic duo" of characters for co-op. Some examples given by THQ were Cowboy and Indian, Dominatrix and sex slave and Tag-team wrestling partners with sordid pasts. Amazing.
The Initiation Station will be offered for free on PS3, 360 and PC, with early access for those who pre-order Red Faction: Armageddon. A date for its general release wasn't confirmed by THQ.
Saints Row: The Third launches on PS3, 360 and PC this fall.