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XFCE + Classic95 from Github = heaven.

This one?

Wow. These usually get it just wrong enough that I can't use it, but this is REALLY close! I'm impressed.

IceWM also has a nice Windows 95 theme. I used to run it with Gnome 1.0 on my Red Hat 5.2 system (Linux kernel 2.0.36!) system in 2000.