Bitnote is a command line application that can be used to create bitcoin paper notes in ps and pdf format:

http://bitgen.org/bitnote



Here are an examples of a generated paper wallets:

http://bitgen.org/bitnote/example_canton.pdf
http://bitgen.org/bitnote/example_rtuga.pdf
http://bitgen.org/bitnote/example_timbo.pdf

To generate a postscript file, use the bitnote command with the WIF as parameter, for example:

$ ./bitnote Kx1oiWaDdU5udEbAzQfEztwR2YzRedbwaN9H8GJqtGVKj5J6ReDD

A design can be specified as a second parameter, currently one of "canton",  "mrno",  "rtuga" and "timbo".
A bitcoin amount can be specifed as the third argument.

Example:
$ ./bitnote Kx1oiWaDdU5udEbAzQfEztwR2YzRedbwaN9H8GJqtGVKj5J6ReDD rtuga 1.3

The code is open source, and uses the same bitcoin library as bitgen:
http://bitgen.org/

The designs originate from this thread:
https://bitcointalk.org/index.php?topic=155847