I really like my little table. It's from Ikea, and I haven't seen any other company who makes something very close. When I don't need a table top for anything, it folds down like the above photo., giving me lots of space.
If two or three people are eating dinner, or I have a small project, I fold out one side like this.
The center has six drawers, three on each side which house little stuff like pens, lighters, tacks, chargers, and tons of other odds and ends.
If I have anything that needs a larger table space, I can easily spin the table around and fold out both wings like this. Now it is close to filling my living room space. If I would pull it away from the wall (and had more chairs which I don't at the moment) I could easily seat six or even eight people around it.
They are not paying me to advertise or anything, but for multiple functions and a small space, I highly recomend this table. You can find it at http://www.ikea.com/us/en/catalog/products/10290221/. And they even have several other colors if you don't like the natural wood one that I have.