I think "El Mariachi" is the most famous example.
Seems like every movie these days costs a hundred-million, yet so many of them are crap just the same. What are some of the best movies made with tiny budgets?
Ginger Snaps-one of the best werewolf films I have ever seen. Looks to have cost about a buck-fifty.
Dr. Horrible's Sing Along Blog-told the story of someone's fall into villainy a million times better than the Star Wars prequals for less than one-percent of the budget.
Clerks-hilarious and thought-provoking. Cost about as much as cheesburger and fries.
There is no hunting like the hunting of man, and those who have hunted armed men long enough and liked it, never care for anything else thereafter.
Six String Samurai.