The free tool will allow you to create characters for the upcoming Saints Row: The Third before the game's big release.
THQ says you'll be able to make characters "inspired by your favorite downward-spiraling train wreck celebrity or prima donna professional athlete" and share these with friends online. You'll be also be able to download other players' warped creations and tweak them as you see fit.
Friends will be able to team up to create a "dynamic duo" of characters for the Saints Row: The Third's co-op mode. Examples provided by the publisher include a cowboy and indian, and a dominatrix and sex-slave. Kinky.
The Initiation Station will be offered for free on PlayStation 3. Those that pre-order Red Faction: Armageddon will get early access. No dates were given.