The thread peet gave pretty much covers it but since I already typed this out here you go.
VB Code:
  1. Option Explicit
  2.  
  3. Dim WithEvents cmd As CommandButton
  4. Dim pic As PictureBox
  5.  
  6. Private Sub cmd_Click()
  7.     Set pic = Controls.Add("VB.PictureBox", "pic")
  8.     With pic
  9.         .Top = cmd.Height
  10.         .Left = 0
  11.         .AutoRedraw = True
  12.         .AutoSize = True
  13.         .Picture = LoadPicture("C:\My Documents\logo.bmp")
  14.         .Visible = True
  15.     End With
  16.        
  17. End Sub
  18.  
  19. Private Sub Form_Load()
  20.     Set cmd = Controls.Add("VB.CommandButton", "cmd")
  21.     With cmd
  22.         .Left = 0
  23.         .Top = 0
  24.         .Caption = "Add Picture"
  25.         .Visible = True
  26.     End With
  27. End Sub