I was talking on the live chat the other day and we were giving ideas for fast Christmas presents. I mentioned I had made insulated sleeves for my curling and flat iron. They are really easy to make with insul-brite inside and lots cheaper than the $20+ version that is sold commercially.
I cut out rectangles of fabric, batting, insul-brite, backing, rounded the corners and quilted. Binded the top and a little down the side. Folded in half and added binding overlapping the top binding and around to the bottom.

This is probably a silly question, but is it okay to put a hot iron in this without it burning the fabric? Yours is very pretty!

Those are neat

I always assumed it was no different that a potholder. My old cover was just a potholder folded in half and sewn together. The insulbrite keeps the heat from going to the top, but so far there doesn't seem to be any problem with the inside material getting hot. I will put my iron in when it's really hot and test it. Good question though.
The ones I've seen sold by a purse manufacturer (don't think I am can mention name brand here?), are just quilted cotton.

I have one that is made out of a quilted potholder. Works great since usually the last thing I pack when taking a trip is my hot curling iron. It is usually still very warm when I pack it in its little holder.