Is there a particular reason you want to create it yourself? There are bunches of minimal Linux distributions out there already, for just about every conceivable purpose. So unless you're interested in the experience of designing one yourself, you may be better served by using an existing one (especially if you are new to Linux!)
Of course, choosing one would be hard MuLinux
is one of the best ones I've found. Try that, and some of the others, to see what you like.
If you really want to try creating one yourself, and basing it on an existing distribution, check out the Linux From Scratch
site - it has a lot of good info on the subject.