I love anchor charts! I try to make them for most of my concepts. Right now, as we get ready to head into a new unit, I'm considering having my students go through a competition to make the anchor charts for me. The best anchor chart (visually and descriptively) will be put up in the room for the unit. I haven't tried it yet but I might as we start our fractions unit. :)
Anyway, here's an anchor chart that I have up right now for area model multiplication. Some of my students actually solve multiplication exclusively using this model.