In response to 'ibolmo', this is an extended version of string_walk, allowing to pass userdata (like array_walk) and to have the function edit the string in the same manner as array_walk allows, note now though that you have to pass a variable, since PHP cannot pass string literals by reference (logically).

<?php
function string_walk(&$string, $funcname, $userdata = null) {
    for($i = 0; $i < strlen($string); $i++) {
        # NOTE: PHP's dereference sucks, we have to do this.
        $hack = $string{$i};
        call_user_func($funcname, &$hack, $i, $userdata);
        $string{$i} = $hack;
    }
}

function yourFunc($value, $position) {
    echo $value . ' ';
}

function yourOtherFunc(&$value, $position) {
    $value = str_rot13($value);
}

# NOTE: We now need this ugly $x = hack.
string_walk($x = 'interesting', 'yourFunc');
// Ouput: i n t e r e s t i n g

string_walk($x = 'interesting', 'yourOtherFunc');
echo $x;
// Output: vagrerfgvat
?>

Also note that calling str_rot13() directly on $x would be much faster ;-) just a sample.