Cooperative Simultaneous Localization and Mapping (C-SLAM) enables multiple agents to work together in mapping unknown environments while simultaneously estimating their own positions. This approach enhances robustness, scalability, and accuracy by sharing information between agents, reducing drift, and enabling collective exploration of larger areas. In this paper, we present Decentralized Visual Monocular SLAM (DVM-SLAM), the first open-source decentralized monocular C-SLAM system. By only utilizing low-cost and light-weight monocular vision sensors, our system is well suited for small robots and micro aerial vehicles (MAVs). DVM-SLAM's real-world applicability is validated on physical robots with a custom collision avoidance framework, showcasing its potential in real-time multi-agent autonomous navigation scenarios. We also demonstrate comparable accuracy to state-of-the-art centralized monocular C-SLAM systems. We open-source our code and provide supplementary material online.