ManyCam 1.0 has just been released. The free application lets you use your webcam with multiple applications simultaneously. For example, stream live from Ustream.TV while video chatting with iChat AV. You can also create your own custom webcam graphics and add them to your webcam stream or use one of the thousands of graphics submitted by ManyCam users.

Features include:
• Choose a blank color as your video
• Arrows on the right side of the screen to rotate your video source
• Slider to zoom your video in and out
• Movies now show elapsed time and total time
• Set up a time elapsed slideshow for images and snapshots
• Add text to your webcam video window with any application.
• Add cool animations to your video window.
• Show your local day and date in your video window.
• Add live CGI graphics like fire and water effects. You can even make it appear as if it is snowing inside your house!

ManyCam 1.0 for Mac OS X Effects Demo Video:

Direct link to video via YouTube here.

System Requirements:
Mac OS X 10.5 or greater, Intel Mac only

More info and download link here.