Add custom link when using field_get_field I have an image field on a taxonomy term. I am retrieving it via field_view_field and render it afterwards to display it. But I would like to give it a custom link. How to do this?
Do I need to make a new image formatter, with a link as configuration property? Or is there another solution to add the link before the render?

Thanks!
Problem with that module is that you have to define a token or fixed link. I am writing code that create a link on the fly, that can change in time.

For example: displaying the image of a taxonomy term, with a link to the last added node having this term. 

The easiest solution:
$image = render(field_view_field(……));
$output = l($image, $link, array('html' => TRUE));I

When I tried this earlier it wasn't working, because by default the HTML option is set to false, displaying HTML code instead of rendered HTML code.