Can I create diagonal banners on the fly in the corner of images?

I've seen diagonal banner or ribbons on real estate sites that display in the corner of certain images and used to indicate "Price Reduced", "Just Listed", "Sold", etc. Can anyone recommend a method or possibly a plugin that would allow me to create and assign specific ribbons as an overlay on specific images? I would need the banner to NOT be part of the image and something that could be turned on or off and assigned to different images etc. I'm trying to attach a sample image to this thread for clarification on what I want to do.

Thanks,
Larry