It's almost unbelievable, but PhotoSketch takes a loosely drawn sketch with text labels and scours the Internet for matching images. When it finds them, PhotoSketch uses an advanced blending algorithm to analyze each element and stitch everything together. The resulting pictures are not exactly perfect, but that takes nothing away from the cool-factor of PhotoSketch.
You can watch PhotoSketch in action after the jump, and a website with the source code and more information can be found here. According to that page, an online demo is in the works, which should be incredibly fun to tinker with.