A DIY-thread would be cool. Once you finished you could post the results here and for further "how-to" information, you could put an instructable at instructables.com (step by step with pictures). That would be cool.
I have made a book-style case for on the go and a wooden slipcase which I published here:
http://www.instructables.com/id/DIY-Wooden-iPad-case/
http://www.instructables.com/id/DIY-...oleskin-style/
Awesome to see others DIYing