I know many of us were inspired by the results of our first annual Velo Cheapo Build-Off held last Fall. Well at least I was--- and the result was my own Velo Cheapo build. My goal was to build a bike using as many on-hand parts as possible, make it utilitarian, and keep the total out-of pocket expenses to a minimum.
Without further delay, let me introduce you to the PB Version of a Marin Muirwoods Commuter Special!
Costs:
Muirwoods MTB of early '90s vintage, derailleurs, stem, and wheels- Dump Find,
free
Chrome Fenders- Dump Find,
free
Swept Back Handle Bars- Dump Find,
free
Grips, Brake levers and Friction Thumb Shifters- Dump Find,
free
Front & rear lights, reflectors- Dump Find,
free
Triple Crankset- Dump Find,
free
Schwinn Super Sport Seat Post- gift from BlankCrows,
free
Bell- from local thrift store,
free
Rear Rack and Panniers, Yard Sale purchase, $5
New Wal Mart Cables- on hand $12
New 7 Speed Cassette- $15
New Leather "No Name" Saddle- Ebay purchase, $17 shipped
New Bottom Bracket- on hand, $20
Used Michelin City Tires- on hand, $20
Total Invested: $89 
Let's see you Velo Cheapo Inspirations! 
