You can use Batch class to generate on the fly dynamic mesh/geometry.
Here's a basic example for drawing a line:
and another for drawing a box:
You can also fill normal an texture coordinates to use lighting and texture mapping.
Alternatly, you can use Model to create dynamic geometry but it would be a little more complex. Basically, create a Model object, add a Mesh which would be initialized with one GeometryData. In this GeometryData, you dynamicaly set each vertex data (position, texture coordinates, normals, ..) and the face indices.
This second is may less memory efficient if you're geometry would be re-generated each frame.
EDIT: Here's an example to generate a static model 'by hand'