Ninja Ripper is a free model and texture ripping tool developed by blackninja.
It captures 3D geometry, textures and shaders from software utilizing DirectX. It also logs captured info in a readable format. Textures/sprites are exported to the DirectX image format, DDS. Meshes are exported to RIP files, which can then be imported into the 3DS Max or Blender editors using the accompanying tools. There is also a tool for Noesis.
The software currently has support for DirectX 11/9/8/7/6 and works for *most* games.
Please note that Ninja Ripper only activates when a certain key is pressed. This can be customized in the settings.