MultiBootUSB is a software which allows user to install multiple Live Linux Distros in to a single USB drive / Pendrive / Flash drive and able to boot from it. It is available for both Linux and Windows.
Main Features:
Need not have to select from dropdown list.
Simple user interface.
Installed distro can be deleted whenever required.
Try to keep the USB drive clean.
Test USB with out reboot (using QEMU)
Download MultiBootUSB
You can also try this updated linux version from here
http://sourceforge.net/projects/multibootusb/files/Linux/
Now version 3.2 is available…
http://sourceforge.net/projects/multibootusb/files/Windows/Version3.2/MultiBootUSB-3.2.exe/download