Wikipedia has a good overview of OSS license choices:
http://en.wikipedia.org/wiki/Compari...tware_licenses
The licenses with green in both boxes in the General Comparison table are considered to be least restrictive/most flexible/most permissive.
Most of the projects I have contributed to in the past have been Apache 2.0 licensed projects.
Making up your own license language is generally considered to be a Bad Thing.