This is more or less the cole slaw I grew up eating, and is pretty much the only kind I like. Unlike typical restaurant slaw, it's tart instead of sweet, and if you eat it right away, the cabbage is crisp, not soggy.
You can dress this up with minor variations, like adding a small bit of dijon or other mustard, adding a bit of dill, using tarragon-flavored vinegar, etc. You can also add color with bits of red cabbage and/or shredded carrot (or just use pre-bagged cole slaw veggies).
Substituting plain yogurt for part of the mayo will lighten it up and add an interesting tang to it.