Can someone recommend an easy way to convert a PDF file into a quarter page booklet?

I'd like to have each page a 1/4 the size of a regular piece of paper, in a booklet style, printing on the front and back, and have 4 pages per page one side of piece of paper.

That way I can cut the page in half and minimize the amount of paper I use while making a quarter page size booklet I can keep in my pocket.