The Chameleon camera consists of high performance optics, image plane, control electronics and an integrated high speed buffer. The whole unit fits within a 10x10x20 cm envelope, making the Chameleon camera an ideal payload for small microsatellites and larger CubeSats. A central feature of the Chameleon camera is that its spectral channels can easily be customized to each user’s individual needs. Up to eight distinct spectral bands may be defined. Advances in optics, detectors and high speed data capture allow Chameleon to establish a new benchmark for cost-effective performance vs mass, and will enable unprecedented capability in the CubeSat and microsatellite industry.