Tutorial: Skin Modifier in Blender 2.64

The skin modifier, which is new in Blender 2.64, has been added to the modifier compendium. The skin modifier can be used to easily create base-meshes for sculpting or to create abstract or cartoonish figures.

There is really a lot of cool things you can do with the skin modifier. Check out the examples in this thread on Blenderartists and this interesting example-file on BlendSwap.