spectrwm is a minimalistic tiling window manager that tries to stay out of the way so that valuable screen real estate can be used for much more important stuff. It has sane defaults and does not require one to learn a language to do any configuration. It was written by hackers for hackers and it strives to be small, compact, and fast.
i3 is a dynamic tiling window manager. Its key features are correct implementation of Xinerama (workspaces are assigned to virtual screens, and it does the right thing when attaching new monitors) and XrandR support (which is still unfinished). Both horizontal and vertical columns can be used in tiling. There is a special focus is on writing clean, readable, and well documented code. i3 uses xcb for asynchronous communication with X11, and has several measures to be very fast. i3 is primarily targeted at advanced users and developers.
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.
dvtm brings the concept of tiling window management, popularized by X11-window managers like dwm, to the console. As a console window manager, it tries to make it easy to work with multiple console based programs like vim, mutt, cmus, or irssi. dvtm is intended to be used where X11 isn't available or over SSH. In conjunction with dtach, it can be seen as a lightweight alternative to GNU screen.
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.
Ratpoison is a simple window manager with no large library dependencies, no fancy graphics, no window decorations, and no rodent dependence. It is largely modeled after GNU Screen, which has done wonders in the virtual terminal market. All interaction with the window manager is done through keystrokes. ratpoison has a prefix map to minimize the key clobbering that cripples EMACS and other quality pieces of software. All windows are maximized and kept maximized to avoid wasting precious screen space.
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.