In a fit of craftiness, I picked up some various fabrics at my local fabric shop and spun out these double pointed needle cases. Lined, of course, and with a wooden ball on the outside that can be labeled with the size of the needles stored within.
Of course, I created these before I discovered the pleasure of knitting small diameter rounds using two circular needles (or even with one long circular!) Ah well - they do pull double duty well, and I've toted circular needles coiled up inside one of these pouches.
For a good variety of fabrics for small projects like this, I recommend hitting the "remnants" or the fat quarters section of the fabric store. Nothin' like supporting one's habit by fetchin' fine deals!