It's a two-in-one iPad case! We've seen a few multipurpose cases now, but Incase's Origami has a particular surfer-wetsuit-look that I really dig.
It's $35 so is a lot cheaper than some of the other cases we've seen (like Griffin's Standle, at $50), and does the job of protecting iPads when put in case-form, but with a few little folds (like origami...geddit?), it turns into a stand for watching movies on and so forth. Pick it up in pink or black now. [Incase via CrunchGear]