From Mulle kybernetiK:
This is a little application that displays logfiles on your desktop. Really useful if you have to monitor servers or you just want to keep an eye on what's going on on your machine. In its standard configuration it displays entries from any number of logfiles interleaved in a single window. It is smart enough to close and reopen files every now and then to deal with rotating files and it transparently works around stale NFS handles which often exist after your Mac wakes up from sleep and tries to read from a logfile mounted via NFS. If you don't mind hacking the user defaults (rather than using the preferences panel) you can also configure multiple windows with multiple logifiles each.