Image 2 Mesh is a Blender Add-on that lets you convert image(s) to mesh geometry.

For Concept Art, Visual FX, 3d Modeling (photo mapping / reference), etc.

Features:

• Plane, Screw or Boolean conversion,
• Auto UV Projection Setup (keep working with live UV's),
• Vertex Color Mode option,
• RGB Color-As-Alpha option (Set in Add-on prefs),
• Batch Processing,
• Alpha-Border dilation. etc.

Standard version will only recieve bug fixes from 1.3 onward.

Pro version has faster processing & exclusive features.

Update: Version 2+ has fewer features, but is up to 10x faster! Currently only available for Pro tier. Older versions are still available for download.

See I2M Docs for complete list of Pro Version Features