As an avid iPod fan and beanie wearer I shall give this product a seal of approval. This acrylic beanie stores the Shuffle and the cords neatly inside. And because the beanie will cover the ears of most wearers, then you will get a barrage of people talking to you without knowing you can't hear them. I love it when that happens. It is available in multiple colors for $22 through Pakatun.
Apple Shuffle Beanie [Gadget Review]