rpeterson has written a tutorial for creating a dynamic menu with CakePHP. It is a little bit difficult to understand (I have to admit I was not very concentrated as I read it *g*), but maybe it will be useful for you.
2009-11-27: Fixing broken link, it points now to archive.org as the original link no longer exists.

i would prefer a helper for http://phplayersmenu.sourceforge.net/
…or the more simple:
http://www.devmansion.com/Products/PHP/Menu/Docs/Default.aspx?go=examples/examples.ascx
hey link is not working???
@webgeeks: Thanks for the hint, the link is now fixed.