Thanks to this post from Sukesh, from which i came to know about this cool tool MSN Cartoon (Beta) which creates smileys & cartoons from photos & pictures uploaded by converting them, using facial recognition technology.
After uploading the photo, one can change facial expressions. This can be a very cool feature to get our own caricature, cartoon which can be used in various Live services.
But the main hurdle is , its in Chinese, as its from Microsoft China Development.
But if you are familiar enough with which Windows buttons to click, one can get it working with few tries.
In the end you"ll get a file containing the newly created smiley with your chosen expressions.
It may take a bit of time to understand as its in Chinese.That's why I am yet to try out all options. But to overcome this, Sukesh has put up a video to help it out.
And make sure you are using Internet Explorer 6.0 or above as it may not work with other Browsers.