grml-live

"grml-live - build framework based on FAI for generating a grml and Debian based Linux Live system (CD/ISO) [...]

grml-live provides the build system for creating a grml and Debian based Linux Live-CD. The build system is based on FAI (Fully Automatic Installation). grml-live uses the "fai dirinstall" feature to generate a chroot system based on the class concept of FAI (see later sections for further details) and provides the framework to be able to generate a full-featured ISO. It does not use all the FAI features by default though and you don't have to know FAI to be able to use it.

The use of FAI gives you the flexibility to choose the packages you would like to include on your very own Linux Live-CD without having to deal with all the details of a build process."

http://grml.org/grml-live/