You can create partition types such as Syslinux, ReactOS, Grub, UEFI: NTFS, or the aforementioned FreeDOS. Its versatility lets you format a new drive, as well as install Linux, Windows, and even FreeDOS disk images, which, in fact, comes built into the application itself.
Rufus is a tool for Windows that lets you create boot devices from external storage units, like USB flash drives and SD cards.