This paper presents an open source framework called Creamino. It consists of an Arduino-based cost-effective quick-setup EEG platform built with off-the-shelf components and a set of software modules that easily allow users to connect this system to Simulink or BCI-oriented tools (such as BCI2000 or OpenViBE) and set up a wide number of neuroscientific experiments. Creamino is capable of processing multiple EEG channels in real-time and operates under Windows, Linux, and Mac OS X in real-time on a standard PC. Its objective is to provide a system that can be readily fabricated and used for neurophysiological experiments and, at the same time, can serve as the basis for development of novel BCI platforms by accessing and modifying its open source hardware and software libraries. Schematics, gerber files, bill of materials, source code, software modules, demonstration videos, and instructions on how to use these modules are available free of charge for research and educational purposes online at https://github.com/ArcesUnibo/creamino. Application cases show how the system can be used for neuroscientific or BCI experiments. Thanks to its low production cost and its compatibility with open-source BCI tools, the system presented is particularly suitable for use in BCI research and educational applications.