These are great option for around $20! - Mechanix Wear Tactical Specialty Suppressor Cover

This cover works well on VERY hot cans. I've gotten this thing close to melting after a few mag dumps - but it did not catch on fire.
I would not recommend going through more than 60 rounds at a quick speed, but for just plinking and a day at the range shooting at a normal slow pace it holds up perfectly fine.

I knocked off one start due to the large price increase - at around $20 this was a great purchase. I wanted to buy another - but not after its doubled in price. At this new price there are better options.