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There's an on-the-fly slideshow built-in. Select the images you want in the slideshow, then right-click (control click) and select "Slideshow" It's also in the tool menu, if you have the toolbar showing in the Finder.

You can also do one through iPhoto and control the order, transitions and even add music.
 

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I prefer the select and right click method too, mainly because with iPhoto's slideshow it always adds bad music to it and does crappy special effects -- like a really lame powerpoint presentation. Yes you can change that all, but when I just want to see a slide show I don't want to have to mess with all that crap.
 
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