[Yahoo! Pipes] Pipes is a free online service that lets you remix popular feed types and create data mashups using a visual editor. You can use Pipes to run your own web projects, or publish and share your own web services without ever having to write a line of code.

While the Pipes editor reminds me of Quartz Composer, this is probably one of the most interesting web-based tools that I’ve seen in awhile.

Here’s the 20-second overview: Pick a bunch of endpoints (RSS feed, URL, web service, etc.), add in some rules around processing the data and toss in some optional user input. Out comes a new feed (or object) that you can share with your friends and family, or consume it within an application (such as an RSS reader or your own software).

Basically, Yahoo! has created an incredibly innovative mixer for data (i.e.- it’s a KitchenAid for web data). Very cool stuff.

Update: More here on TechCrunch.