Unlike many of the Linux distributions out there today that are little more than minor user-facing changes to Ubuntu or another tier-one Linux operating system, Slax for the past many years has followed its own dance. Slax, a LiveCD Linux distribution built around Slackware, is very lightweight and calls itself a "pocket operating system" as with the most recent release it can fit a full Linux OS with the KDE4 desktop in about 200MB. Slax is also intended to be quite easy for others to modify and create custom images via Slackware packages and Slax modules. The recent Slax 7.0 release was the first update for the open-source operating system in several years. For those interested in knowing how this very lightweight and customizable operating system can work so efficiently, Tomáš Matejícek, the Slax creator, has written an exclusive Phoronix article about the process.
What Is Slax
Slax is a Live operating system based on Linux. Live means it runs from an external media without any need for permanent installation. Slax boots from USB mass storage devices such as Flash Drive keys as well as from regular hard drives and CD/DVD discs.
rest here