Just downloaded an app called Wired Goggles from Market. Dev says use faster devices like N1 but its working great on my Droid. It displays REAL TIME wireframe outlines of whatever you point your camera at. You can change colors and full version you can save image to SD card in .png format. Try free version first and play with it.
FOR ANDROID 1.6 AND UP ACCORDING TO DEVS WEBSITE
FOR ANDROID 1.6 AND UP ACCORDING TO DEVS WEBSITE