Where players can create, share and download the most outlandish videogame characters ever seen, and then upload them as playable characters in the upcoming Saints Row: The Third, scheduled for release this holiday. More details, plus screenshots and boxart, after the jump.

• Play as your favorite train wreck celebrity-turned reality TV star, take aim as your least favorite overpaid prima donna professional athlete, or don a cape as Steelport’s newest superhero (or villain).
• Save your master creations and share them with friends. Download other characters for your own use, or tweak them just the way you like.
• Collaborate with a friend to create your own dynamic duo for co-op play. Cowboy and Indian? Dominatrix and sex slave? Tag-team wrestling partners with sordid pasts? Your twisted imagination is the limit.

The Saints Row Initiation Station will be available free on the Xbox 360® video game and entertainment system from Microsoft, PlayStation®3 computer entertainment system and Windows PC in advance of the release of Saints Row: The Third this holiday.