Don Lehman beat us all to the punch with his Stylus Cap design that transforms your favorite writing utensil into a fully-functional touchscreen stylus called the MORE/REAL Stylus Cap.
I set out to design the Stylus Cap, mainly because I wanted one for myself. I love all the power tools like the iPad and iPhone bring to sketching and note-taking: you can quickly work out an idea from anywhere and send it off instantly to anyone. Unfortunately, using your finger to do those tasks feels more like finger painting than doing something that requires more precision. We are preconditioned to using pens and markers for taking notes and drawing. There are a few styluses on the market that work with touchscreen devices, but for the most part they are less than ideal.