Staying in tonight with the fam or hitting your favorite dive to kick it footloose and slurp a champagne toast?

Either way, Ustream lets you to watch the New Year’s Eve action at several major celebrations live from your laptop or mobile phone.

The free live video streaming site is hosting feeds of several NYE parties, including…

• The famous ball drop at Times Square, without which history would halt, and all next-year calendars would suddenly become impossible to open. (Channel: CBS News)
• The Funchal Harbor fireworks display on the island of Madeira off the coast of Portugal, a Guinness Book of World Records-acknowledged, big-ass pyro show. (Channel: Madeira)
• The Junkanoo Festival in the Bahamas, a merry parade through the streets of Nassau in the late, late hours of December 26 and again in the early, early hours of January 1. (Channel: Junkanoo 2009 Parade Live)
• And, for stargazers, the ritzy Omphoy resort in Palm Beach, Fla., is offering a feed of its celeb-promising party. (Channel: Omphoy NYE Live)

If you haven’t already — and you should have because it’s a cool app — download the Ustream iPhone/iPod Touch app free from the iTunes store. In addition to letting you watch feeds on Ustream, the app allows you to broadcast live from your own iPhone.

In fact, you could even broadcast your own party! All you need is a papier mache ball, some lighter fluid or Bacardi 151, fire, a webcam-equipped computer or video iPhone and a free Ustream account.

Locker Partner is not liable for whatever illegal or immoral things you do tonight and broadcast to the world while under the influence of alcohol and social media.

Image of Madeira fireworks courtesy _Pixelmaniac_