Small apartment compost bin
My compost bin - two 5 gallon buckets. The bottom one holds dirt to scoop on top of freshly added materials, the top one holds compost under way.
The buckets were being pitched by a local co-op - they'd been filled with honey that had just been added to the store's bulk keg. I was able to scrape 6 cups of excellent orange blossom honey off them before filling them with dirt :)
The top bucket normally has a cover on it. A photo of the finished product is here.
Inspired by Vic Sussman's Easy Composting (now out of print, but available for as little as $2.50 through Amazon.)
March 2013 update: After a number of years of doing this, I've moved on to a 2 bucket bokashi composting set up. It sits under the sink, produces usable compost much more quickly, and doesn't require bringing soil home from the garden.