One of the most beautiful things about Python is a plenty of third-party libraries (which Lua world unfortunately lacks). Creating tag cloud in Python is quite easy. Firstly, we need to install required packages. I run Fedora 18.

yum install python-pip.noarch
yum install pygame
yum install simplejson

Now you an install pytagcloud. (NB: do not use easy_install, pip is the right way to go).

python-pip install -U pytagcloud

Now we are ready to create our first tag cloud image:

from pytagcloud import create_tag_image, make_tags
from pytagcloud.lang.counter import get_tag_counts

TEXT = '''
You know the day destroys the night
Night divides the day
Tried to run
Tried to hide
Break on through to the other side
Break on through to the other side
Break on through to the other side, yeah

We chased our pleasures here
Dug our treasures there
But can you still recall
The time we cried
Break on through to the other side
Break on through to the other side
Yeah!
C'mon, yeah
Everybody loves my baby
Everybody loves my baby
She get
She get
She get
She get high
I found an island in your arms
Country in your eyes
Arms that chain us
Eyes that lie
Break on through to the other side
Break on through to the other side
Break on through, oww!
Oh, yeah!
Made the scene
Week to week
Day to day
Hour to hour
The gate is straight
Deep and wide
Break on through to the other side
Break on through to the other side
Break on through
Break on through
Break on through
Break on through
Yeah, yeah, yeah, yeah
Yeah, yeah, yeah, yeah, yeah'''

tags = make_tags(get_tag_counts(TEXT), maxsize=150)

create_tag_image(tags, 'cloud_large.png', size=(900, 600))

After you run this script you should have file ‘cloud_large.png’ in your current directory.
Here is mine:

Python is great.