The folks of Tech21 have created the iBand protective case, an incredible accessory that you can see in action in the video below. The case is made out of a substance called d3o, a non-Newtonian material, that looks stretchy but becomes tough and protective under pressure:
In case you’re not familiar with the substance, it’s used in motorcycle armours and other impact-exposed applications. d3o is seemingly applied around the edges of the case, but still the protected handset survives falls and other types of torture. The price is quite reasonable for this accessory, $25 and you should know that iBand is only available for the iPhone and iPod Touch.