Using Excerpts on non WP pages

Ok… so I have figured out excerpts (thank you search function!) but I cannot for the life of me figure out how to use them elsewhere.

What I want to do is have an excerpt of the most recent WP post, on a page that has no other WP content. Sorta like a news feed, or RSS I suppose. I have no idea how to pull the excerpt though.

Any help/suggestions would be appreciated!