Escape Pod by one-man British iPhone app developer Dardan Software allows you to get off the hook in pretty much any awkward phone situation. The app offers 29 pre-recorded sounds as well as the ability to record new sounds and add them to the library. Sounds like "Smoke Alarm", "ER Background" or "Train Station Chatter" can be played at the desired volume during an uncomfortable or annoying conversation.
This is a simple and easy-to-use app. Only the control of the volume was not as easy to adjust as one would hope. For anyone who has ever rang their own door bell in order to make up an excuse to the person on the other line this will be a fun new way to make white lies more believable. And with a little imagination and acting skill one might even pull off the "UFO Attack" that is included in the sound library.