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Ok, maybe you won't put it in your socks, but I bet you could. This new mTrix PMP by PQI Taiwan is being talked about as the "smallest personal media player" ever. It's got a 2-inch TFT-LCD and weighs only 115 grams, though it's only got 32MB of flash memory. However, it does have MMC/SD cards for expansion. Supports MPEG, JPEG and DiVX for video and images and MP3/WMA/WAV support for music. Should be about $150 this October.

PQI mTrix Smallest PMP Around [Mobilemag]