UPDATE: SCAM ALERT!
This turned out to be a nice idea right up until the time they stopped paying me. The website stopped receiving applications, stopped paying people and generally started acting scammy. At the time they closed up shop, they owed me around $250.00
Avoid like typhoid...
Recently I trialled a passive income stream called freebies4webmasters that seems to have turned out to be profitable. I was skeptical at first - actually, I was skeptical right up until the time that the payment appeared in my account. Now that the money is there I can't argue with it.
The process is simple - you put a code on your blog displaying a rather unobtrusive ad on 3 different pages. If you have a blog with more than 3 posts or a website with more than 3 pages this is very simple. Then the fun begins.
Firstly, you are paid 10 pounds (Oh joy for the exchange rate!) for signing up.
Secondly, you are paid 5 pounds per month for leaving the ad code on your site. You don't have to do anything else.
You can put the code on multiple sites if they are approved, thus doubling your income or tripling it or more!
You have nothing to lose so why not give it a try? It's a good place to start if you have never earned money from your site.
IMPORTANT UPDATE: Despite initially making an initial amount money from this company, they have since shut down and hightailed it with around $200 still owed to me. Don't bother!!!