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This works on XP.
Go to Pendrivelinux.com and download the QEMU PC hardware emulator installer (QPU804.exe) This executable is actually a self-extracting archive. When you run it you just need to tell the installer where to unzip the contents. The result will be a folder named QPU804.
Copy the SliTaz ISO to that folder. You now have a virtualized SliTaz installation that can run alongside Windows. The QEMU set up can execute any ISO that you put on that folder (you can also install the QPU804 files and the SliTaz ISO in a flash drive subdirectory and run the virtual machine from that location).
Execute QPU804.bat to start your virtual machine (it will advertise it is running Ubuntu but really it will run the ISO you copied to that folder, Slitaz.iso in this case).
To move the mouse out of the QEMU screen window press ctrl keep it pressed and press alt key simultaneously. To go back there just left click in the window.
If you start a file manager window within Slitaz, you will see a partition labeled “QEMU VVFAT”; if you go there you will see a file which is shared with XP, located in the QPU804\shared folder.
I ended up with a 800×600 screen, (I believe). I did played a little bit with the options to get a different resolution - with no success. You may want to read the QEMU documentation and play with the available options from both QEMU and Slitaz to get a higher resolution.
The only thing I really succeded was to add the -full-screen option to the qemu command line of the QPU804.EXE file, to get a full screen slitaz.