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yED - Free Modeling Tool

yEd is a powerful diagram editor that can be used to quickly create diagrams manually or import external data for analysis and auto-magically arrange even large data sets by just pressing a button. You can use yEd to quickly create flow charts, BPMN and UML diagrams, organization charts, mind maps, and many other kinds of diagrams, graphs, and networks. Choose from a wide range of highly sophisticated layout algorithms to automatically arrange diagrams in no time. An intuitive and visually appealing user interface makes creating diagrams fun. Once a diagram has been created, it’s easy to save, print, or export it to popular formats like PDF, SWF, EMF, SVG, JPEG, GIF, PNG, or HTML image maps.

yED is often used to implement models when doing Model Based Testing. And to my experience. yED is very sufficient for this use.

Link to yED website:
http://www.yworks.com/en/products_yed_about.html