Apple announced the iPad mini today, a smaller iPad model that starts at $329 for a 16G model. Along with the new form factor and a lightning connector cable, Apple is also making Smart Covers for the new iOS device. You can see them right on the Apple Store website.
As it says in the official Apple Press release, the iPad mini Smart Cover will be available in six colors, including dark gray, blue, green, pink, light gray, and (PRODUCT) RED. It will cost $39 and fit that sweet new Wi-Fi iPad mini you can pre-order on October 26, purchase in an Apple retail store on November 2. The Wi-Fi + Cellular models will show up mid-November.