There are a handful of inexpensive TV sticks with Rockchip RK3066 dual core processors available for around $50 to $70. While they're designed to run Android apps on a TV, they can also run other operating systems. Now the first Ubuntu Linux-based OS is available for RK3066 mini computers including the MK808 and UG802.
It's called PicUntu, and it's available for download from Google Code.
These little sticks typically feature 1GB of RAM, up to 8GB of storage, microSD card slots, USB ports, and HDMI output. Since PicUntu is written specifically for these devices, it's a light-weight operating system available as a 110MB download.
It also includes WiFi drivers for the UG802 and MK808, and support for additional devices could be added in future versions.
What you won't find is hardware graphics acceleration. In other words, you can perform most basic computing tasks in PicUntu, but 3D video games and HD video support is minimal.