I designed and made a felt sleeve for an IPad. Originally designed for the IPad II, this provides light protection while packed in a bag. It also conceals the device, and works wonders on planes when one is trying to read themselves to sleep while listening to sleep-inducing music. While I personally fail to fall asleep on planes consistently, I never was afraid of anyone seeing me in a vulnerable state with an expensive device. I'm just weird for hugging a felt brick to my bosom. No one was the wiser.
The sleeve is constructed with felt, which is a hardy material that resists abrasion. Really good for in-and-out-of-bag situations. A silk liner cradles the IPad for a slippery, non-scratchy experience. It helps the IPad go in and out of the sleeve (woah, starting to get a little awkward.) There is an elastic band that will close the cover by wrapping around the top of the bag which folds over. There is enough slack to allow any wires plugged in to hang out and be accessible. I'm talking to you, headphones.
I made this bag for myself for a plane ride, and I have used it ever since in day to day situations. I like how it protects the device in my bag and protects it from the dust and crud in any situation, without being a huge bulky case stuck on the IPad. I liked it so much that I transferred the design to a camera lens, which I often carry around in my bag while I use another lens. Should I need the other lens, I just remove it from it's protective sleeve.
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Felt Sleeve

A light sleeve made of felt, silk, and elastic to conceal and protect the IPad. A sleeve was also designed for a 18-55mm camera lens.