Love this. For the times when you don't want to carry a bag and you just need the essentials: ID, housekey, a few bills and a lipstick. Meet the Bucklette, created by Philadelphia designer Sandy Alexander.
A little pricey ($112 for the belt version; $92 for the clip on), but super-handy and quite pretty.
Update: I want to make sure it's clear that the belt version actually comes WITH a belt as well as the Bucklette!
Discovered this via Popgadget (a great blog for geek chic) and am also using their photo (sheepish grin). Thanks, Popgadget!