Those with access to the surroundings of the Yerba Buena Center for the Arts in San Francisco have been able to confirm that Apple is busy preparing for its “latest creation” event set to kick off on Wednesday, January 27 (tomorrow). Pictures are flying in from all corners of the world showing the venue being painted in splashes of color, a design akin to the invitations sent out by Apple to media reps almost two weeks ago.

On January 18, Engadget was spreading the word that Apple had started sending out invitations to its January 27 event, in what looked like a preparation for quite the announcement. The invitations, featuring the Apple logo in the middle of several colorful paint splatters, bore the message, “Come see our latest creation.”

The entire tech industry is waiting for Apple to unveil what is undoubtedly the most hyped product in the company’s history, a tablet device borrowing key elements from the iPhone, as well as Apple’s line of MacBook computers. Various mockups have been created over the years trying to paint a picture of what such a product would be like, although Apple generally has a better view of these things. Eyewitnesses, including Apple execs and Steve Jobs' friends are said to have heard Apple’s CEO state that the tablet project was the most important thing he'd ever done in his life.

The rebel, yet conservative Apple Inc. likes to keep things under tight wraps until its iconic CEO takes the stage and makes the big announcement. It chooses the same location over and over again, for big announcements. San Francisco’s Yerba Buena Center for the Arts couldn’t be a better location for unveiling a tablet device, possibly tailored for designer work as well.

Besides making the much-hyped tablet announcement, Apple is also expected to introduce new versions of its application suites (iLife and iWork), a new version of the iPhone OS (perhaps even a sneak peek at the next-generation iPhone), as well as changes to the iTunes Store, and more. Softpedia will be covering every minute of the event, so drop by tomorrow around 10AM Pacific.