I have not partitioned a usb stick, but I have partitioned a 16 GB SD card and
it is much the same thing. You cannot do it from a drive you are currently
using, so won't be able to use CrunchBang. You can do it from Windows using
something like SwissKnife. See:
www.download.com/.../3000-2248_4-10070864.html

You can also do it from almost any Live Linux CD or use unetbootin (See:
www.download.com/.../3000-2094_4-10790500.html) to
quickly write a Linux distro from an iso file to a second usb key. There are two
good graphical interfaces for parted, the Linux partitioner. There is gparted
(Gnome) and qtparted (KDE). They work the same way. There are specialized
distros that are made for this purpose, such as GParted Lice and Parted Magic.
Distrowatch has a comparison. http://distrowatch.com/weekly.php?issue=20070806
Any of the major distros such as Ubuntu/Kubuntu will come with one or the other.