An interactive IFS Fractal generator focused on the "Collage Theorem", IFS Lab allows the user to sketch an approximate outline of the desired fractal, then cover it with transformed images of itself to build a collage. The transformed images can be stretched, rotated and translated with the mouse in an easy to use user interface. The attractor can then be rendered by the random iteration algorithm, either in monochrome or in grayscale. IFS coefficients can be modified numerically, and can be saved to and read from disk files. An "Optimize" function can create a perfect collage from a given IFS code.