This may be the most creative and unique design for a flat-pack chair I've ever seen. It consists of two identical, racetrack-shaped frames each supporting an elastic material and with zippers running around their perimeters and the two holes in the center.
You fold each piece into a "C" shape and zip one interior circle to its counterpart on the other side. Then you zip the two pieces together and bang, you've got the Wormhole Folding Seat.
The brilliant design is by Moscow-based Igor Lobanov. Recognize his name? He's the guy behind the Sprout pen concept from last year.