The upcoming update will add a new feature to the game: Custom images. You'll be able to upload images from your harddrive and place them in the world.
You can upload any kind of image.
Of course this is compatible with multiplayer (as long as this feature is enabled on the server you're playing on), so other players can also see your images.
Here are some examples:
This feature serves not only for decorative purposes, but it also allows you to create customized signs and labels:
Expect this update within the next days ;)