Simple Compass by TreSet

The mod adds a stylish RPG-style compass to the game interface that displays the main cardinal directions. You can create up to four waypoints that will be displayed alongside the directions.
Settings are opened with the H key by default, as well as through Mod Menu.
Setup
Requires the VanillaConfig mod (starting from version 1.6.0)! Simply place the .jar file from the releases section into your Minecraft mods folder.
Features (version 1.6)
- Clean and clear compass panel
- Convenient in-game settings menu
- Four customizable waypoints for each world
- Adjustable compass scale (width)
- Individual sizing for direction and waypoint icons
- Various display modes: always, never, or when holding a compass in hand, hotbar, or inventory
- Minimalist mode: removes all colors from the compass (displays only letters)
- Proper waypoint scaling in the Nether