It is a pretty common first project to use an Arduino (or similar) to blink an LED. Which, of course, brings taunts of: you could have used a 555! You can, of course, also use any sort of oscillator, but [Mustafa] has a different approach. Blinking an LED with three resistors and a capacitor. Ok, ok… one of the resistors is a light-dependent resistor, but still.
In reality, this is a classic relaxation oscillator. The capacitor charges until the LED lights. This, however, causes the capacitor to discharge, which eventually turns off the LED, and the process starts again.
There is one wrinkle that could be considered a feature. In daylight, the capacitor will stay in the off state, so the blinking only occurs in darkness. Of course, the resistor also has to have a sufficient view of the LED. You might use this as a safety light that only works in the dark.
A simple circuit, but it just goes to show that we tend to forget the simple solutions in a world where a computer costs less than a dollar.
Of course, you can get a chip whose sole purpose is to blink LEDs. We always like examples of doing more with less.