What is claimed is:1. A method for displaying images, the method comprising:displaying, by an electronic device on a touch screen, a first image based on image data obtained from an image sensor, and an effect menu button, wherein the first image is displayed as a large sized preview image, occupying a majority area of the touch screen, refreshed based on image data obtained in real-time from the image sensor;detecting a touch input for selecting the effect menu button on the touch screen;responsive to detecting the touch input for selecting the effect menu button, displaying, by the electronic device, a plurality of second images and the first image, wherein each of the second images is displayed as a thumbnail sized preview image refreshed by applying a respective image effect to image data obtained in real-time from the image sensor;detecting a touch input for selecting at least one of the second images on the touch screen;responsive to detecting the touch input for selecting the at least one of the second images, applying a respective image effect of the at least one selected second image to image data obtained from the image sensor to generate a third image;displaying the third image together with the second images, wherein the third image is displayed in place of the first image as a large sized preview image refreshed based on image data obtained in real-time from the image sensor;receiving a touch input for capturing a still image; andgenerating, in response to the touch input, a still image by applying the respective image effect of the third image to image data obtained from the image sensor after receiving the touch input,wherein the second images are refreshed as preview image thumbnails together with the third image as a preview image at least until the touch input for capturing the still image is received.2. The method of claim 1, wherein the generating of the still image generates the still image with a resolution higher than that of the third image.3. The method of claim 1, further comprising:determining whether the touch input for selecting at least one of the second images is received within a specified period of time; andterminating the displaying of the plurality of second images based on a determination that the touch input is not received within the specified period of time.4. The method of claim 1, further comprising:detecting a touch input with respect to the effect menu button while the plurality of second images are displayed; andin response to the touch input, terminating the displaying of the plurality of second images.5. The method of claim 1, further comprising:displaying a second image to which no filter effect is applied at a predetermined position among the plurality of second images.6. The method of claim 1, further comprising:displaying an indication indicating that no filter effect is applied to the second image to which no filter effect is applied.7. The method of claim 1, further comprising:displaying, in relation with each of the plurality of second images, an indication indicative of the respective image effect in a specified language.8. The method of claim 1, further comprising:determining if the same second image is selected multiple times;when it is determined that the second image is selected multiple times, displaying an indication of a number of times one of the second images is selected and generating the third image by applying, to a first image, the effect corresponding to the second image as many times as the second image is selected; andwhen it is determined that the second image is selected a single time, generating the third image by applying once, to the first image, the image effect corresponding to the selected one of the second images.9. The method of claim 1, further comprising:determining whether multiple different second images are selected; andwhen multiple different second images are selected, generating the third image by applying the effects corresponding to the respective selected multiple different second images to the first image.10. The method of claim 1, further comprising deactivating for selection at least one 10 second image that has not been selected based on that second image being associated with an effect which is not compatible with the effect corresponding to another second image that has been selected.11. The method of claim 1, further comprising activating for selection at least one 15 second image that is associated with an effect which is not compatible with the effect of another second image that has been de-selected.12. The method of claim 1, wherein the second images are displayed in an order that is determined based on a characteristic of the second images' respective image effects, wherein the characteristic is selected from a group including color, brightness, and chroma.13. The method of claim 1, wherein the second images are displayed at a location determined based on a frequency with which that second images' respective image effects have been selected in a past period of time.14. The method of claim 1, further comprising deactivating one of the second images based on a selection of another one of the second images, wherein the deactivation renders the deactivated second image incapable of being selected.15. An electronic device comprising:a memory storing instructionsa touch screen;an image sensor; andone or more processor configured to execute the stored instructions to:display, on the touch screen, a first image based on image data obtained from an image sensor, and an effect menu button, wherein the first image is displayed as a large sized preview image, occupying a majority area of the touch screen, refreshed based on image data obtained in real-time from the image sensor;detect a touch input for selecting the effect menu button on the touch screen;responsive to detecting the touch input for selecting the effect menu button, display a plurality of second images and the first image, wherein each of the second images is displayed as a thumbnail sized preview image refreshed by applying a respective image effect to image data obtained in real-time from the image sensor;detect a touch input for selecting at least one of the second images on the touch screen;responsive to detecting the touch input for selecting the at least one of the second images, apply a respective image effect of the at least one selected second image to image data obtained from the image sensor to generate a third image;display the third image together with the second images, wherein the third image is displayed in place of the first image as a large sized preview image refreshed based on image data obtained in real-time from the image sensor;receive a touch input for capturing a still image; andgenerate, in response to the touch input, a still image by applying the respective image effect of the third image to image data obtained from the image sensor after receiving the touch input,wherein the second images are refreshed as preview image thumbnails together with the third image as a preview image at least until the touch input for capturing the still image is received.16. The electronic device of claim 15, wherein the one or more processor is further configured to generate the still image with a resolution higher than that of the third image.17. The electronic device of claim 15, wherein the one or more processor is further configured to:determine whether the touch input for selecting at least one of the second images is received within a specified period of time; andterminate the displaying of the plurality of second images based on a determination that the touch input is not received within the specified period of time.18. The electronic device of claim 15, wherein the one or more processor is further configured to:detect a touch input with respect to the effect menu button while the plurality of second images are displayed; andin response to the touch input, terminate the displaying of the plurality of second images.19. The electronic device of claim 15, wherein the one or more processor is further configured to display a second image to which no filter effect is applied at a predetermined position among the plurality of second images.20. The electronic device of claim 15, wherein the one or more processor is further configured to display an indication indicating that no filter effect is applied to the second image to which no filter effect is applied.21. The electronic device of claim 15, wherein the one or more processor is further configured to display, in relation with each of the plurality of second images, an indication indicative of the respective image effect in a specified language.22. The electronic device of claim 15, wherein the one or more processor is further configured to:determine if the same second image is selected multiple times;when it is determined that the second image is selected multiple times, display an indication of a number of times one of the second images is selected and generating the third image by applying, to a first image, the effect corresponding to the second image as many times as the second image is selected; andwhen it is determined that the second image is selected a single time, generate the third image by applying once, to the first image, the image effect corresponding to the selected one of the second images.23. The electronic device of claim 15, wherein the one or more processor is further configured to:determine whether multiple different second images are selected; andwhen multiple different second images are selected, generate the third image by applying the effects corresponding to the respective selected multiple different second images to the first image.24. The electronic device of claim 15, wherein the one or more processor is further configured to deactivate for selection at least one second image that has not been selected based on that second image being associated with an effect which is not compatible with the effect corresponding to another second image that has been selected.25. The electronic device of claim 15, wherein the one or more processor is further configured to activate for selection at least one second image that is associated with an effect which is not compatible with the effect of another second image that has been de-selected.26. The electronic device of claim 15, wherein the second images are displayed in an order that is determined based on a characteristic of the second images' respective image effects, wherein the characteristic is selected from a group including color, brightness, and chroma.27. The electronic device of claim 15, wherein the second images are displayed at a location determined based on a frequency with which that second images' respective image effects have been selected in a past period of time.28. The electronic device of claim 15, wherein the one or more processor is further configured to deactivate one of the second images based on a selection of another one of the second images, wherein the deactivation renders the deactivated second image incapable of being selected.