Cracked has a funny post about the world's tiniest "countries" - it's in quotes because they're just patches of land (or an old sea fort) that some crazy guys claim as their own countries.
Take for example The Kingdom of Redonda:
Christopher Columbus discovered the island in 1493 and named it Santa Maria la Redonda (meaning "Saint Mary the round") and that's all we know before the history of this proud uninhabited nation turns into legend, fiction and drunken lies. Back in Queen Victoria's days, a guy named Matthew Dowdy Shiell claimed himself as king. Over the generations the kingship was given away and sold several times to people who loved the idea of putting "King" on their business card.
Right now, four men claim to be the rightful king of this shitty island.
You may think we say "shitty" as an insult, in which case you are half right, because it is also an accurate description. It's biggest export is shit (Guano, to be exact). Over 7,000 tons of shit came out of Redonda every year until operations ended in World War I.
Link (And yes, the photo is King Bob the Bald, one of the self-proclaimed rulers of Redonda) - Thanks Christophe!
Previously on Neatorama: 5 Smallest Countries in the World