Logisim is an open source educational tool for designing and simulating digital logic circuits. With its simple toolbar interface and simulation of circuits as you build them, it is simple enough to facilitate learning the most basic concepts related to logic circuits. With the capacity to build larger circuits from smaller subcircuits, and to draw bundles of wires with a single mouse drag, Logisim can be used (and is used and many colleges and universities) to design and simulate entire CPUs for educational purposes.
Logisim is Java based and downloads are available to run on any platform supporting Java 5, or later. Tutorials and guides are also provided.
Via Hack a Day.