RDoc is the de facto standard for Ruby-based API documentation.
The RDoc tool chain reads Ruby code and comments,
generating HTML files and lookup files for the ri command.
Templates are used to generate different HTML (etc) formats.
As detailed on the Merb Documentation page, autogenerated API docs are available over the web for the Merb Core, Merb Core + Merb More (aka Merged Docs), and everything else in the Merb Stack. There are pages for the Git Head (generated nightly) as well as a number of release versions.
The Rails documentation is somewhat relevant to Merb 1.x users, because of cross-fertilization in the code base, etc. More to the point, the upcoming merger of Merb 1 and Rails 2 into Rails 3 makes the state of Rails documentation of great interest, long term.
The Ruby documentation is obviously relevant to Merb users. www.ruby-doc.org contains API documentation for the:
The Rails project also maintains some (rather dated) API snapshots on rubyonrails.org: