ManyCam lets you operate multiple Webcams simultaneously, including both real and virtual Webcams, and customize them with a variety of effects and filters like flames and cartoon eyes. ManyCam can keep multiple video chat sessions open, monitor home security cameras, stream videos, and display still images when you want to chat but don't want to show yourself. ManyCam 4.0 is freeware; a Pro upgrade is available.
Pros

Easy setup: ManyCam more or less sets itself up, identifying and accessing our video feeds, including our live Webcam, and displaying them in a busy but feature-filled interface.
Broadcasting: ManyCam lets you display multiple chat sessions or send one feed simultaneously to multiple chat clients, or screencast your desktop with live narration and onscreen drawing and effects.
More, more, more: The Effects tab has Filters, Distortions, Backgrounds, Borders, Overlays, Objects, Face Accessories, Emoticons, and more. We could add audio, timestamps, text, transitions, playlists, and more. Need more? It's a download away.
Cons

Somebody's watching me: Be careful when using ManyCam (or any cam). It bears repeating: Be aware when your Webcam is on and broadcasting your private life to the Web-Wide World!
Bottom line

ManyCam 4.0 is an excellent multiple Webcam manager, but it's also a security center, a broadcast studio, and a post-production facility in one free and easy-to-use program.
Publisher's Description

From ManyCam:
ManyCam allows you to use your webcam with multiple programs at the same time. Broadcast your webcam video simultaneously on MSN Messenger, Yahoo, Skype, AIM, PalTalk and CamFrog. ManyCam also lets you add cool live computer generated special effects and graphics to your videos and photos. Add text, graphics, objects or emoticons to your video window. ManyCam Studio Pro allows you to switch between video sources, add transitions, unlock more HD resolutions, unlock more picture-in-picture modes and access all Pro effects and graphics on our website. It's great for services like Ustream, Youtube, Justin.TV and Airtime. With ManyCam 4.0 you can now record in MP4, share your photos and videos on Facebook and Twitter, easily access saved videos and photos in the new Gallery tab, access frequently used effects in the new Favorites section and much more.
What's new in this version:
Stability improvements.


Read more: ManyCam - Free download and software reviews - CNET Download.com http://download.cnet.com/ManyCam/3000-2348_4-10593500.html#ixzz31IZaskNP