This is quite a nice online picture editor, you just upload your picture then do what you like with it, crop, resize, add text, add border, rotate, blur, sharpen, it also does batch resizing but isn't very good at getting the sizes down.
DrPic.com Free Web Picture Editor and Image Host - Crop, Resize, Text
A cropped and resized picture taken from the one below, also lightened up a bit.
If you just want to get the size of a picture down in kb then this online resizer is better but it only resizes, no other toys with it.
Resize Images online
Lets see what it can do with this picture which is 182kb, nice sunset and all that but a bit too big for web sites.
A quick run through the resizer gets it down to 45kb, and thats on medium quality, not a bad saving.
Want to make a quick online banner of 468 by 60, this one is a quick place to learn the basics.
FREE ONLINE ANIMATED BANNER AND GREETING GENERATOR - CreatingOnline.com
Want to make a quick button for your blog or whatever, this one is pretty easy.
Cool Text: Logo and Graphics Generator