Even though I'm currently playing World of Darkness and Amber, and the next game I run will probably use either Spirit of the Century or Mutants & Masterminds, I do occasionally end up needing miniatures at the table. Because I am a cheap bastard, I don't own any real minis, but instead end up using a whole lot of folded pieces of paper weighted down by pennies. This kind of sucks, because it's extremely easy to mess up the whole board with a careless gesture.
So I found myself thinking of the character tokens that some online RPG applications (such as MapTool) use as virtual miniatures, and wondering if anybody out there was making a physical equivalent of those things. It'd be the simplest thing in the world, right? Each one would just be a couple of plastic disks--maybe with some metal bits for weight--that snap together to hold a piece of paper in place. You could print out character art stolen off of deviantART and ConceptArt.org, maybe even with a different front and back for each character to represent different states (alive and dead, for example), and get more utility out of a handful of cheap token rings than a whole bucket full of miniatures.
Hell, you could even use them to represent things other than characters positioned on a grid. Status effects come to mind, for example, for things like injuries and buff spells. They might also work to keep track of point pools, if you've got enough of them.
So anyway, this seems too obvious not to exist, but the closest thing I could find were these things, which are cheap and metal, but don't seem to be especially customizable. And, apparently, they're no longer available anyway. They do make me think a bit more about how my own ideal tokens would be constructed, though. Maybe metal discs with a clear plastic cover that snaps in place over the inserted portrait would be the way to go. And the cover would have to be opaque at the edges, to hide the ragged edges where the portrait's been cut out.
This is too simple and obvious. This has to already exist, right?