Waterfield Designs Outback Tablet Sleeve
Using high quality materials in San Francisco Waterfield Designs creates some elegant and well-made cases and sleeves for multiple devices, and the tablet sleeve works great on the Nexus 7. The distressed leather and waxed canvas looks nice and attractive. A layer of neoprene inside even helps clean it as you slide it in and out, and protects the display. It's an elegant sleeve and comes in Grizzly Leather or Chocolate colors.
$39 from SFBags