I have been wearing it with my iPhone on the way to work and home, and I cannot live without it.
It is called "Simplism DockStrap for iPod/iPhone" released in last month.

This silicone neck strap holds iPod/iPhone at the dock connector with a firm lock.
Thanks to the soft and flexible nature of the material, it is very comfortable to wear.

Also, my favorite part of the strap is that I can leave my phone down at the front of my body where I can quickly reach any time. This means that my hands can be free when necessary.

DockStrap comes in Black, White, Brown, Pink, and Simplism Green, the brand color.

Most fun part of the strap is that you can coordinate with the color of the case or your iPod/iPhone. Yes, with this, you can go case-less.
But, I tried Simplism Green with red silicone case, first. The bright color combination is really fun and cheers me up.

Right now, Pink is my boom and I match it with a white silicone case.

*sorry for the bad picture. I will replace it with better one later.

Next time, I probably go with White with a blue case for soothing, cool look.
Maybe Black + black would work for a business suits, and with iPod nano 4th, the color combination is countless..
I can play with it forever!