Doesn't seem it's an active distro thoughhttp://tinylinux.sourceforge.net/:
TinyLinux is a small Linux Distribution for i386 derived from SuSE 6.4. In the base version it just contains the things which are necessary to run Linux. Therefore the base package is rather small and requires approx. 7MB.
http://www.toms.net/rb/:
1) tomsrtbt is
"The most GNU/Linux on one floppy disk"
for:
rescue recovery panic & emergencies
tools to keep in your shirt pockets
whenever you can't use a hard drive
Tomsrtbt stands for:
"Tom's floppy which has a root filesystem and is also bootable."
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2) Design goals
as much stuff as possible on 1 floppy disk
keep it self contained, build under itself
try to make it behave like a normal system
rescue and recovery functions get priority