Apple's earth-friendly packaging of a paper clip (aka: iPhone tool)?

I've seen a lot of strange and wasteful things in my day. But here's one that got my attention today. Via Digg, not only does Apple provide a paper clip to recipients of warranty replacement iPhones (his earpiece went dead on him), it's clearly using packaging that costs more than the paper clip itself to make sure buyers don't lose track of it. How green is that? Thanks to Keith Muth for permission to use the photo (here's another good picture of the complete package).