I have searched and there are some php or flash based solutions, but none in Python.
PIL (Python Image Library) could be the starting point, but if anybody knows something done or half done I will gladly use it for my Django projects, finish or polish the library and release it for everyone.
It’s actually fairly easy in Django. Jacob Kaplan-Moss posted about it years ago. I used this on my site for a while.
Apparently there’s a django-rendertext project based on that code, but I haven’t used it.