Wing is a simple program that pings a server of your choice and reports the response time. Wing is skinnable and supports transparency, allowing your network monitor to be out of the way yet pleasing to look at.
Wing is currently in beta.
The Wing beta is packaged in a zip file. Unzip it and put it anywhere you like; it has no dependencies other than the skins directory which must be in the same directory as Wing. An installer will arrive shortly; it will clean up any registry settings from the Wing beta.
Wing is relatively straightforward to use. Right click on the Window for a menu of options. You can also view the Skinning How-To Document.