I've been spending some time working on a flex component to add "handles" to an on screen object to allow an end-user to resize and move it. It's exactly the same type of functionality when you're using design mode of Flex Builder.
Below is the first look at the current progress I've had.
As you might have noticed it has a few bugs and is far from done feature-wise. It you'd like to keep up on it, take a look at the project page.
If anyone knows of a project doing this same type of functionality, please let me know. I hate to duplicate efforts.