The talented Bartek Drozdz from Everyday Flash has taken his Bend modifier and created a powerful 3D modifier library called AS3Dmod.
This cross engine framework includes three modifiers Noise, Bend and Perlin that can be combined to create different effects, but only when you start creating your own modifiers, the true potential of this tool is unleashed: Sheets of paper, ribbons, flags, water, cloths, birds, the possibilities are endless.
More info here.
