Slitaz

Some articles on slitaz:

Sli Taz - System Requirements
... SliTaz GNU/Linux is supported on all machines based on the i486 or x86 Intel compatible processors ... The Live CD has four variants of SliTaz, requiring from 192 MB of RAM for the Core system to 48 MB for a text mode and X Window System ... Slitaz can even run in 16 megabytes of RAM and a little swap memory ...
Comparison Of Linux Distributions - Live Media
7001480000000000000≈48 Yes Yes Yes Yes SliTaz GNU/Linux 700116000000000000016 ... to 7002192000000000000192 Yes Yes Yes Yes Tiny SliTaz ...