Weak supervisory information of web images, such as captions, tags, and descriptions, make it possible to better understand images at the semantic level. In this paper, we propose a novel online multimodal co-indexing algorithm based on Adaptive Resonance Theory, named OMC-ART, for the automatic co-indexing and retrieval of images using their multimodal information. Compared with existing studies, OMC-ART has several distinct characteristics. First, OMC-ART is able to perform online learning of sequential data. Second, OMC-ART builds a two-layer indexing structure, in which the first layer co-indexes the images by the key visual and textual features based on the generalized distributions of clusters they belong to; while in the second layer, images are co-indexed by their own feature distributions. Third, OMC-ART enables flexible multimodal search by using either visual features, keywords, or a combination of both. Fourth, OMC-ART employs a ranking algorithm that does not need to go through the whole indexing system when only a limited number of images need to be retrieved. Experiments on two published data sets demonstrate the efficiency and effectiveness of our proposed approach.