I had posted about these flashlights about a year ago - it's not a pocket flashlight, but it's cheap and definitely "good enough" for a junk drawer flashlight, or a loaner you won't cry about if it doesn't make it back to you:

Eveready LED Econoy 1D flashlight

I first saw these in a local grocery store, and since have seen them in Target and elsewhere. Under $6 for a pair, and they're also sold singly, for about $3.50. Uses 1D battery, in a body size of a 2D flashlight. Same cheap body as a 2D incandescent light, but it has a LOOONG spring to take up the space, and the LED gives adequate (not fantastic) brightness. It comes with a sticker over the positive terminal of the D battery, so it won't come on accidentally and is perhaps less likely to leak.

Great value light.