I think this is great, and I assume that other "children of the '80s" will agree. The iFoolish is a silly name for an iPhone case that's actually got a working Magna Doodle on the back. Sure, they can't use the name, but that's a Magna Doodle all right. A little magnet on a pen that you can use to draw a series of what I believe are iron filings up to the drawing surface. You've seen these things before -- draw whatever you want on them, and then use the little slider at the bottom to throw off the magnetic field again and then clear the board.
Sure, you could just as easily do this on the iPhone's screen itself (and in fact, there is indeed an app for that). But this is the real thing, helpfully attached to the back of your iPhone case. You can pick up the iFoolish for £19.99, which is around $24 US.
[via iPhone Savior]