This is not very complicaded but I really liked the idea of using the connector to attach the tripod insted of a suction or a protector sleeve.
Submitted by DIN 2012, Université de Montréal, industrial design program, for the Instructables Sponsorship Program
tripod found at home : 15$
crappy iphone accessory : 2$
Total : 17$
Step 1: Materials
Step 2: Tools
...not sponsored by Mastercraft...
Step 3: Do not use Apple connector
Step 4: The adaptor
Drill a hole using the 13/64'' bit. Its important since I used the treaded part of the tripod to tap the hole so it can be screwed on nicely. Indicate the entry side with a marker, the screw only works one way.
Step 5: Minor adjusments
Make sure you remove the internal wires in the connector, your iPhone could react badly to shorts on its external connections. (Thanks to pcairic)