"We are doing all kinds of things like that to think about ways to sustain this idea of participatory culture. We have no idea if this will be popular," Wales told news agency Reuters.
Users can source content to print from the 3m web pages and more than 50,000 communities presently on Wikia, which is now making a profit for the first time since it was founded five years ago.
MagCloud enables user to produce bespoke full-bleed, full colour glossy magazines through a web interface that allows them to select content.
HP has also announced it is using its BookPrep digitising and printing service with the University of Michigan Library to make 500,000 out-of-print books available for on-demand printing.
Earlier this year, German start-up publisher PediaPress joint forces with Wikipedia and Lightning Source to offer custom-made on-demand books with content from the online encyclopaedia.
Lightning Source is responsible for all the print, with production at both its UK site in Milton Keynes and its US facility in Pennsylvania.