Folder Text Labeler for Mac

From NiteOwl Software:

Folder Text Labeler is a Shareware icon utility tool that can be used to composite text on top of Mac OS X Finder icons. To use the program, simply drop an icon for the backdrop onto the view in the upper left corner of the window and type text into the text entry field. The program will composite the text on top of the icon, with the transparency intact, and allow you to write the resulting composite to a PDF file, TIFF file, .icns file or to the Finder's clipboard. From the clipboard, the icon may be pasted into any Finder icon through the Finder's "Get Info" window.

Version 2 adds background icon and foreground text rotational sliders, "Select Bg Icon..." button to select background icon, "Make Default" button to save current settings as default and audio feedback to "Copy to Clipboard" button.