This is the Photorito Lens Wrap, it is a wrap in two senses of the word, it safely wraps your lens up protecting it from being damaged, and it also appears to look like a burrito, which is great for hiding it from site.
These are the details on the Photorito Lens Wrap website;
It’s a protective lens wrap that looks like just like a burrito! Here’s how it works: wrap your lens up burrito-style in the padded sleeve, and a built-in band will hug your lens to keep it in place.
Now you really want one of these don’t you;
The next time your buddy calls you up for a scenic hike, you won’t have to lug your camera bag. The wrap does the cushioning for you, so you can toss your lens into any bag.
Priced at $20 in the US and £14 in the UK
Source [Incredible Things]