My recent sojourn to Seattle saw me bunking down on my friend's pullout couch. As sofa beds go, it was actually pretty nice: instead of the usual remove-the-pillows-and-pull-out-the mattress type, it was an L-shaped couch where a cushion slid out from under the long arm of the L to make it a fairly sizable bed. Add a sleeping bag, and it was not too shabby.
Taking that to the next level is the Doc Sofa/Bunk Bed. Not only does it transform from couch to bed, it transforms from couch to bunk beds , complete with fold out ladder. Have to say, this would be quite the handy piece of furniture for my current apartment, which lacks both guest sleeping space and seating.
It's available in the UK, though I couldn't find a price. This seems like a perfect item for Target; maybe it'll show up here eventually.
[via Oh Gizmo! ]