On a recent trip to Las Vegas I picked up these cute luggage tags from Coach.
I got them in both hot red (above) and black at a great price, nothing like that little touch of luxury in your life. They do have a downside though, I lost one on a recent flight and I'm pretty sure it's because the chain that attaches them on snapped, so my new counter measure is to use a plastic loop that is a lot stronger, you could also use a cable tie, but it wouldn't look so nice then. Its amazing what you can find when you have your eye out.