Well, it’s better than a wallet: The soon-to-be-released “Playa” (ugh) iPhone case has a compartment in the back for condoms. It’s going to be released this summer for $30 and will work with iPhone 4 or 4S models.
Just do yourself a favor and file off the “Playa” logo before someone sees it. (And don’t forget that the city has a free condom locator app for iPhone and other major smartphone platforms.)
Update: Adam Lawrence makes a good point on Twitter: [blackbirdpie id="187298583991685122"]
I did a little cursory poking around to try to find the operating range of an iPhone under a lot of use, but I didn’t see anything conclusive. Nevertheless, manufacturers suggest condoms be stored at temperatures below 100° Fahrenheit. Considering an iPhone can get noticeably warm enough for a person to feel it in their hand, it seems likely that temperatures will exceed 100° in a closed case in a pants pocket.