Not yet. The closest thing is called Vignette and it's pretty darn close. Similar apps include: Picplz, Retro Camera, Mytubo, and Befunky. Vignette, much like the iPhone's Instagram, allows users to give roughly 60 different effects to there photos. It also allows for full resolutions, flash, and geotagging among other things. There are some issues with specific phone models though so check for compatibility before purchasing. Some also complain of the memory-intensive nature of the app. Nevertheless, here's some photos that I made with the demo:
