there is no built-in function in Oracle with the same result, but you can easily make your own one by using to_char() function.
Usage examples are here:
how to do that, if you don't know format of the incoming parameter of this function. You don't know is it '21:00:01' or is it '21-May-2010' or is it '11-01-09'? How in this case you propose to use to_char()?