Monochrome 128x32 I2C OLED Graphic Display is small, only about 1" diagonal, but very readable due to the high contrast of an OLED display. This display is made of 128x32 individual white OLED pixels, each one is turned on or off by the controller chip. Since the display makes its own light, there is no need for backlight. Therefore the power required to run the OLED is reduced and contrast of display is increased.
The display has SSD1306 as driver chip and it communicates via I2C only. 3 pins are required to communicate with the chip in the OLED display, two of which are I2C data/clock pins.
The OLED and driver require a 3.3V power supply and 3.3V logic levels for communication. To make it easier to use, a 3.3v regulator and level shifter are also added on board. This makes it compatible with any 5V microcontroller, such as the Arduino.
The power requirements depend a little on how much of the display is lit but on average the display uses about 20mA from the 3.3V supply. There is a detailed tutorial and also an example code by Adafruit in the form of Arduino library for text and graphics. Since the display needs to be buffered, you will need a microcontroller with more than 512 bytes of RAM.
Dimensions:
Display details:
Adafruit Tutorial: https://learn.adafruit.com/monochrome-oled-breakouts
Example Code: https://github.com/adafruit/Adafruit_SSD1306
Arduino Library: https://github.com/adafruit/Adafruit_SSD1306
OLED PCB Files: https://github.com/adafruit/Adafruit-128x32-I2C-OLED-Breakout-PCB
Adafruit Product Page: https://www.adafruit.com/products/931