Here is a clever idea. A Strobe case that turns into a reflector. There are many strobe soft reflectors out there, but none that double duties as a strobe case. The LP742 from LumoPro is a transformer of a case that doubles as either a full reflector (think Flash Bender) or a small flag (think speedstrap flag thingy).
The case is actually made from three parts: a velcro strap and a case with two reflective prats that zips into one piece.
When assembled, the case is a regular holster, but when the zipper opens, each of the two parts can be velcroed to a strobe on its black side (for flagging light) or on the reflective side (for extra reflection).