Live USB Creator – Cross-Platform Free Tool For Installing Live OS On USB Flash Drives
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Live USB Creator is one such tool which lets you install various cross platform operating system on USB Flash Drives.
This tool has been initially tested to install Fedora on USB Flash Drive, but it can also let you install Windows XP one day on your USB Pen Drive for which research is going on 
Right now it can help you install fedora linux either from a disc image, dvd or you can also download and install fedora on the go.
It will automatically detect all the USB drives connected to your computer on which Fedora Linux or Sugar Spin can be installed.
Author + Admin: Abhishek BhatnagarSoftware Engineer by profession and blogger by passion, I blog about computer tips and tricks and solutions for computer problems. You can connect with me at twitter or know more about me on www.abhishekbhatnagar.com.
[...] Yes, there is. You can use USB-Creator. A tool to take Ubuntu CDs and ISO files and write them in a usable form to USB disks. There is also Linux Live USB Creator for Windows. [...]