JavE is a Java program for creating and editing ASCII art. It features an impressive array of tools, most of which are modeled on the common paint and drawing program. There are also some strange and unique things, like the "camelize" tool that forms a piece of existing text in the shape of a bitmap image.
JavE includes Figlet, and it also comes with some surreal toys like an ASCII Mandelbrot set explorer, an ASCII 3D object renderer and a little ASCII Tetris.
The program is freeware. I have tried it on a PC, but it claims to be cross-platform.