Wings 3D is a tool specifically designed to import and modify models through subdivision - a polygonal modeling technique that allows very well-defined polygons.
The program itself does not include tools to create it's own from scratch. Basically, Wings 3D can import models created by other design environments (such as 3D Studio, Adobe Illustrator or LightWave) into polygonal meshes and then develop them through subdivision polygons. It also includes a series of tools that will help you allocate materials, textures and UV coordinates to your models, add lights to the scene and perform screenshots among other possibilities.
Note that if you're not familiar with 3D modelling and polygon designs, you'll find this program a complete mystery. Even for those well versed, it's a complex little program but fortunately, there's an extensive tutorial on the developer site that takes you from your initial import to your first modelling attempts.
A powerful program that will be of interest to serious designers using 3D Studio, Adobe products or Lightwave.