There are plenty of good reasons you might want to prop up your iPhone. Say you're using it as an alarm clock. Or (sorry David Lynch) watching a video. MoviePeg, without being cutesy or funny or DIY-y, just does it.
iPhone stands are nothing new, but in some ill-conceived attempt to differentiate themselves they always try to add some gimmick. There's the "some-assembly-required" ilk. The expensive "some-assembly-required" ilk. The MacGuyver-inspired. The over-the-top. The really over-the-top. And one that's just an iPhone bean-bag chair.
The market is crowded, sure, but it's crowded with a lot of duds. The MoviePeg keeps it stupid simple: available in six colors and made of a recyclable material, the stand holds your iPhone at any angle, in portrait or landscape. It doesn't have any LED lights or any foldable parts. It just holds your iPhone up without getting in the way.
John Gruber, who wouldn't hesitate to tell you if he thought it sucked, said "it has a great feel to it." The MoviePeg is currently available, shipping from the U.K., for £4.99. [MoviePeg via Daring Fireball]