I'm trying to create dynamic graphics for my game, which I'm building with Cocos2D. The graphics generation will occur at predictable, finite points, such as level loading. I'm having a hard time figuring out how to actually draw this at runtime. From what I can tell, the easiest way would be to draw into a PNG file at runtime and then load an AtlasSprite based on the PNG file, but I can't seem to figure out if this is indeed the best way or how to go about doing it. Any suggestions?
I'm not sure how Cocos2D loads Sprites or Atlases so this is a more general answer.
It might be worth taking a look at the Texture2D class that comes with the old CrashLanding example app. It uses a bitmap graphics context to generate a texture of a string for drawing with OpenGL. The code uses the CGBitmapContextCreate function to create a context. You can draw whatever you want onto it.
Then once you've finished drawing, you can either save the file as a PNG or you can call glTexImage2D on the data to use it with OpenGL.
There's more information about it in the Graphics and Drawing documentation, specifically the section: Creating and Drawing Images.
Edit: It looks like Cocos2D comes with Texture2D so you should be in good shape. Check out the initWithString method here.