Comet Lulin, photographed here about 100 million miles away, will be passing within 38 million miles of Earth from February 23rd to mid-March, which apparently puts it within binocular range.
Some quick facts about Comet Lulin: it was discovered in July 2007, and is frequently visible to the naked eye (though seeing it through binoculars during the aforementioned window will give you a much clearer look). It'll appear about 2 degrees south-southwest of Saturn before it disappears out into the dark abyss in mid-March. The above photo shows the comet's tail off and to the right, and the fading red and blue light comes from the X-ray and ultraviolet telescopes, respectively. [Wired]