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iPad Smart Cover
I remain convinced that for light usage, Apple's Smart Cover is the best, most cleverly designed case you can buy for your iPad. The Smart Cover is a thin, durable cover that cleverly uses magnets to align itself for a perfect fit. It automatically wakes and sleeps your iPad when you lift or close the cover, and it converts into a handy stand for reading, watching videos, and typing. And to top all that off, the microfiber lining keeps your iPad screen clean (except it does have a tendency to leave three greasy lines down the front of the screen that correspond to the folds, but it's still far better than nothing).
However, if you're accident-prone and drop your iPad, you're on your own as this case offers little in the way of impact protection.
Fits both the iPad 2 and 3.
Image credit: Apple