Continuing on with the Do-it-Yourself theme, below are several interesting options that people have shared on YouTube for creating cheap, do-it-yourself iPad stands. I personally have not yet tried any of these suggestions myself. However, with the cost of commercial iPad stands ranging from $15 - $80, I would definitely consider such options!
Option 1: Using the lid from a spindle of blank CD/DVDs.
Option 2: Using a DVD case.
Option 3: Using stratacore (corrugated plastic).