Best Stop Deals via eBay offers the Apple iPad Smart Cover in five colors for $11.99 with free shipping. That's a buck below our mention from three weeks ago and the lowest total price we could find by $2. Compatible with 2nd- through 4th-generation iPads, it can be folded into a keyboard stand and features a magnetic closure.
There's a less expensive way, and then there's the way that works for you. The two may not be the same.