I've stuck this on the about page on my site, as a starter:
Your privacy is important to us. You should know that third parties may be placing and reading cookies on your browser, or using web beacons to collect information, in the course of ads being served.
But I'm going to wait for jensense to get back from SMX and go through it with her fine tooth comb to make sure I got everything before I agree.
Man, I hate these things! I couldn't even tell you what a web beacon is, but I have to warn my visitors about them? And given that people don't enter a site on the about page, they will have the cookie before they read that they might get it. Silly!