Google AdSense allows you to serve text-based Google AdWords on your web site, (ads are relevant to your web site subject) and receive a share of the pay-per-click payment. There are pay-outs of 50 cents or more per click being achieved through AdSense. It is simple to join and it's free.
Go to google.com/adsense and you should be serving Google AdWords usually within 24 hours.You can choose between either horizontal or skyscraper AdSense ads, and they also have a large variety of color schemes to choose from. After your site has been approved you will paste a code into your site and the text ads will appear. Always backup your site before you paste your code, as you may decide to change your AdSense location.
Google also is doing a good job of finding ads that are highly relevant to your site. They go beyond simple keyword matching to understand the context and contents of web pages. They are able to know what a page is about, and can precisely match Google ads to each page. Then they also give you the ability to block certain ads from appearing on your site if you choose.
So what are you waiting for? It's Free and you get paid!
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