Although it's not as stylish as the UFO Cap Umbrella, the Umbrella Shoulder Holder lets you keep both hands available. Just plug your umbrella into one end and wrap it around your shoulder.
Clever; I've been looking for something like this for years. The Japanese Amazon website has a photo showing how to use this, and wrap it securely, so the wind can't knock it off. Great way to save money and not get wet. Why aren't we putting any attention on developing low-tech and use-what-you-have ideas?
It is cool that while the rest of the world seems to be in low gear on Bumpershoot tech, japan sees room for improvement of the design.