Download the linux .iso you want (but i only tested it with a few linux verisons) and
unetbootin.. Use Unetbootin to install to flash drive.
Move the folders it created into a new folder and make a copy of the syslinux.cfg file (or rename it because it'll be overwritten when you install second OS)
Do the same for the rest of the OS you want, move the folders to an OS folder you created and keep syslinux.cfg
On last OS you want, just keep everything the same, and open the syslinux.cfg. Now go back to the previous syslinux.cfg you have and open those as well. Copy the boot options you want to the latest syslinux.cfg and modify the boot location to the folders you put them in. Then rename the menu label to get it to show what you want. You can rename the Label to make it go in order.
Or use the pendrivelinux guide for multibooting from iso
http://www.pendrivelinux.com/boot-multi ... iboot-usb/-----------------------------------------------------------------------
Some pictures of my flash drive, since I know i'm not good at writing this.

lol
http://img689.imageshack.us/img689/5521/root.jpg (picture of how my flash drive looks when I open it)
http://img20.imageshack.us/img20/5167/syslinux.jpg (what my syslinux.cfg looks like)
http://img21.imageshack.us/img21/204/folderltw.jpg (the xpud folder that I have)
Sorry if this isnt written well or if everyone knows this already, but I thought it was neat that I could multiboot on flash drive so I thought to share it with people. Not too sure where the thread belongs but it's somewhat of a discussion.