Not every witty caption on a photo can become a Facebook meme, but new, free Facebook application MemeKit will let users take their best shots.

MemeKit, created by Shawn Lewis and Andrew Badir, allows users to select Facebook photos, add text, change the size and location of that text, and post the result to the news feed (with their friends who are “victims” tagged) or to their own walls.

Photos created with MemeKit can also be emailed as electronic postcards. And recent status updates can be selected to use as captions.

Readers: Is it time to meme your Facebook friends?