aewm is a minimalist window manager for X11. It has no nifty features, but is light on resources and extremely simple in appearance. It should eventually make a good reference implementation of the ICCCM. A few separate programs are included to handle running programs, switching between windows, etc.
FVWM is a multiple large virtual desktop window manager originally derived from twm. FVWM is intended to have a small memory footprint and a rich feature set, be extremely customizable and extendable and have a high degree of Motif mwm compatibility. FVWM is highly extensible through its module interface.
Ion is a tiling (no overlapping windows) window manager that also has PWM-style tabbed frames which can contain multiple client windows. These features help to keep windows organized and to switch quickly between them. Ion was designed primarily as an efficient and unobtrusive window manager for users who prefer the keyboard.
Phluid is a window manager that emphasizes efficiency, speed, and beauty. It uses rasterman's Imlib2 library as the image/font rendering backend. It also attempts to be flexible and compliant with the ICCCM standard and gets a lot of its inspiration from the enlightenment window manager, but some of the initial code design is based on aewm.