\documentclass[12pt]{article}
\usepackage{filecontents}
\usepackage{graphicx}
\usepackage{ifpdf}

% Tell pdfLaTeX to treat our .eps file as a .mps file.
\ifpdf
  \DeclareGraphicsExtensions{.png,.pdf,.jpg,.mps,.tif,.eps}
  \DeclareGraphicsRule{.eps}{mps}{*}{}
\fi

\begin{document}

The \texttt{filecontents} package makes me happy.

\begin{filecontents*}{smiley.eps}
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showpage
%%EOF
\end{filecontents*}






\begin{center}
  \includegraphics{smiley}
\end{center}

\end{document}