A tortoiseSVN Equivalent solution of the accepted answer (I had written this in an internal document for my company as we are newly adopting SVN) Thought it would be helpful to share here as well:
Checking out a single file:
Subversion does not support checkout of a single file, it only supports checkout of directory structures. (Reference: http://subversion.tigris.org/faq.html#single-file-checkout). *This is because with every directory that is checked out as a working copy, the metadata regarding modifications/file revisions is stored as an internal hidden folder (.svn/svn). This is not supported currently (v1.6) for single files.
Alternate Recommended Strategy: You will have to do the checkout directory part only once, following that you can directly go and checkout your single files. Do a sparse checkout of the parent folder and directory structure. A sparse checkout is basically checking out only the folder structure without populating the content files. So you checkout only the directory structures and need not checkout ALL the files as was the concern.
Reference: http://tortoisesvn.net/docs/release/TortoiseSVN%5Fen/tsvn-dug-checkout.html
Step 1: Proceed to repository browser
Step 2: Right click the parent folder within the repository containing all the files that you wish to work on and Select Checkout.
Step 3: Within new popup window, ensure that the checkout directory points to the correct location on your local Pc. There will also be a dropdown menu labeled “checkout depth”. Choose “Only this item” or “Immediate children, including folders” depending on your requirement. Second option is recommended as, if you want to work on nested folder, you can directly proceed the next time otherwise you will have to follow this whole procedure again for the nested folder.
Step 4: The parent folder(s) should now be available within your locally chosen folder and is now being monitored with SVN (a hidden folder “.svn” or “_svn” should now be present). Within repository now, right click the single file that you wish to have checked out alone and select the “Update Item to revision” option. The single file can now be worked on and checked back into the repository.
Hope this helps.