I have an otterbox that I use to hold my sticks in if I'm going on a vacation. OtterBox sold the rights to Cigar Caddy, and they appear to be exactly the same right down to the sponge. I have the 5-stick box (5 thin sticks, length is never an issue, but with larger ring gauges you'll get four sticks, sometimes three), which works great for me. A few summers back, just before my wedding, my best man and a few friends thought it'd be a good time to float down the Gallatin River outside of Bozeman, MT in some tubes. On the way I found myself a bit of rope and tied my otterbox to my tube. I had three sticks, a lighter, and a cutter in there. The otterbox floats without a problem and it's water tight. We put in above some small rapids, rode down those and got onto some flat water where we opened up the otterbox and enjoyed some cigars while floating in an innertube. If the otterbox ever fails (I think it has a lifetime warranty) I'll be buying a cigar caddy. I might go to the 10 stick box though and possibly put in some RH beads to replace the sponge. I also have a case for my iPod from OtterBox. I love their products and their people are great to work with.
Now if I'm just going to a bbq or something and want a cigar with me, maybe one for a buddy as well, I use a 2 finger leather cigar case that came with a box purchase I made awhile ago. That works well, looks classy and it offers adequate protection for my sticks.