My $7 case (Sleeve) came today!
It was in my mailbox so hubby brought it in when he got home for work.
It's a Ex-Point Kobo Touch eReader Leather Case and I got it on Ebay for $7 with shipping.

It a soft leather with soft cloth inside.
It's not really stiff so I wouldn't put it in my purse to travel with but it will be a good around the house protector from cat and dust which is what I need for now.
It fits the K4 to a T!

I mean it fits like it was made for it.
I am guessing the person bought it from Borders and they're all over ebay. It does not have a flap or zipper to close so the reader will fall out if you hold it upside down. So don't do that.
I really like it and I may get a travel case as the cheaper ones comes available but if you need something to hold you over for now look on ebay. I wouldn't pay over $14 for one with shipping. It is nice leather not cheap feeling at all.