Is there an existing good example, or how should one approach creating a basic Template system (thinking MVC) that supports "Template Inheritance" in PHP5?

For an example of what I define as Template Inheritance, refer to the Django (a Python framework for web development) Templates documentation: http://docs.djangoproject.com/en/dev/topics/templates/#id1

I especially like the idea of PHP itself being the "template language", though it's not necessarily a requirement.

If listing existing solutions that implement "Template Inheritance", please try to form answers as individual systems, for the benefit of 'popular vote'.