Whoa, the tiny skeleton spot is the best farming spot in the game.
Let me clue you in.
Prior to going, you need at least 1 homeward bone (optional, I guess, but it makes it much quicker) or whatever they are; you can buy them for 800 souls at the female undead merchant in the shortcut to the capra demon from firelink.
It's a short easy path to get to once you know the route down from the 2nd bonfire in Tomb of the Giants. Takes about 5 minutes, max, for me at SL68. I use a bunch of pyro spells taking out all the undead idiots on the way (1 or 2 dogs, 1 or two warriors, 1 archer, and about 4 of the pillars). Once down there, dealing with the pinwheel apprentice type idiots is pretty easy... and if you have your gold serpent ring on, they'll probably drop some white titanite chunks (haven't seen a slab yet).
Now that you're clear here, you're good to go. Equip gold serpent ring if you haven't already and change your second ring to evil eye. Put on some armor that helps poison resist. I'm using the gold hemmed stuff.
Now, slaughter the tiny skeletons, grabbing the humanity drops when possible. The evil eye ring will keep your health up so you can go on forever without worrying about estus. In about 20-30 minutes, I farmed (with gold serpent ring, 0 humanity) 24 humanity and over a million souls.
When you're happy with your soul # or humanity count, use a homeward bone. This will warp you back to the 2nd bonfire in TotG. Rest up, repair equipment, whatever. Warp to firelink or your desired location (say anor londo or whatever) -- IMPORTANT: only warp to the immediate destination you wish to go, do not warp more than one time.
So in my case, I warped to firelink. I ran up the hill, killed the undead, jumped over, and bought the remaining armor I was missing from the dude on the bridge. Finish that, ran up the stairs and down to the merchant, buy a few more bones. Finished there, ran up to the elevator to undead church, bought all miracles from Rhea, ran to Andrei, gave him large divine ember -- ascended +5 divine weapon to +6. I'm done now, so what do I do? Homeward bone. Because I only warped once and never rested at a 2nd bonfire, it takes me back to 2nd bonfire in ToTG. Treck down to the pit, repeat as desired. If you aren't concerned about humanity, you can put on the silver serpent ring to get 20% more souls and raise your soul count faster.