Bartender
Bartender lets you organize your Menu Bar Apps, by hiding them, moving them to Bartenders Bar, or displaying the full menu bar, set options to have Menu Bar Apps show in the menu bar when they are updating, or have them always visible in Bartenders Bar.
Currently in beta, and a little bit wonky, but well worth a look if your Menu Bar is cluttered with stuff you don’t need to keep an eye on at all times.
Via TUAW.