The two main tools in Logo Foundry let you edit images (little cliparts that are included in the app) as well as text. They are pretty simple: you can curve shapes, change the color of the font and resize it, etc.
The free version of Logo Foundry only lets you work with geometrical shapes. You can change their size and color, creating various compositions. The paid version includes more than 3000 thousand different images you can work with.
Logo Foundry is a good editing app that lets you create logos in just a few minutes. The layer system allows you to perform different modifications without losing any of your work.
Requires Android 4.1 or higher