DIY iPad Cover And Stand: Make your own iPad case out of an old binder and some fabric! Also note that the tutorial doesn't cover it, but if you place a small magnet just right you can turn off the iPad by closing the cover.
I love the functionality of this tablet stand as well as the sweet fabric flower used to embellish the back. TeresaDownUnder will walk you through the steps to sew one of these in her free tutorial. Get the Free iPad Stand Sewing Tutorial