http://www.blacksmith3d.com/
It has the ability to morph a humanoid object into all kind of stuff:
Old v3 Pro Suite version:

Large Image: http://www.mfelkerco.com/3dphotos/black ... oSuite.png
New v5 Pro version:

Large Image: http://www.mfelkerco.com/3dphotos/blacksmith3d5Pro.png
You can also use it to texture, UV and paint 3d objects. It's pretty good, but the morphing capabilities are really the clear winner for me.
Here are the differences in versions of the creature morphing:
Version 3 Pro Suite:

Large Image: http://www.mfelkerco.com/3dphotos/morphsv3.png
Version 5 Pro Suite:

Large Image: http://www.mfelkerco.com/3dphotos/morphsv5.png
Funny enough, the current version seems to be missing the project file that has these morphs and 3D object, but was readily available in
all other versions. I am sure they would make it available and it loads perfectly into v5. One disappointment is the lack of feature sliders
that used to be there. Now you have to either type in a percentage or use up/down buttons. The v3 sliders were much more fun to use
(and yielded better results due to being so easy to use).
Mike