We're just going to go ahead and assume you've at least checked out the default Memos app for the HP TouchPad. It's nothing to write home about, in fact it's not much of anything at all. It's a post-it note canvas upon which you can put words and stuff.
But we know webOS can do more. The webOS Email app has basic text formatting options, for Ruby's sake. So if you're wanting to throw in some italics and underlines and highlight colors in your memos, we have an answer for you: Memos with Style.
This HTML memos app by veteran webOS developer Tamoggemon runs on any device running webOS 2.0 or higher and will cost you $2.98 from the App Catalog. What does two pennies shy of three dollars (pre-tax, of course) buy you? The ability to add bold, italic, underline, and color formatting to your text, for one thing. Memos with Style also lets you save your notes as HTML files on the device, making it easy to share, copy, and edit them on multiple devices and still preserve their formatting. You can even open up multiple cards with Memos with Style, allowing you to have a number of different memos up and running all at once. Now that's multitasking.