First off, I have to say my hubby is the best at finding hot new apps! Then he tells me about them, and I evangelize to you! Ha. Lucky you! (p.s. I'll have to post about the other apps below. aaaand notice my homage to champsicles?)
I've used the Adobe Kuler website in the past, but I'm so glad they came out with an app--it's much better suited to work on a mobile device. Adobe Kuler is a color scheme generator. I imagine it could be used for several artistic purposes, but I LOVE using it for home decor and design.
Let's say you want to redecorate a room around a fun new ikat pillow you found. Just snap a photo of the inspiration piece in the Kuler app, and it will automatically pull colors and create a palette for you based on your inspiration. If your object has many colors, you can also drag and choose which of those you'd like to pull in the app.
Kuler also allows you to choose other color rules (like complementary, monochromatic, and shades) to create other schemes branching from the original color or palette. I think this is especially helpful to find clashing colors you'd like to avoid.
I've already gone on a summery palette craze, as you can see here. Looks like my common colors are a honey, buttery yellow, coral, and orange. Sounds about right! Oh, and do you recognize that third one? Rifle Paper Co. all the way, baby!
This is SUCH a great tool for decorating--you should all get it! Oh yes, and it's free, and oh so pretty, yahoo! Download it now and send me all your color palettes, wheeee!