Styled in your dorm: A folding chair is a great way to provide friends with seating at a moment's notice. Since it can easily fold up, it won't take up any extra space, either.
Styled in your apartment: When you go to furnish your first apartment, the butterfly chair makes for a great side chair. If you're worried about it looking too "temporary," just add a few pillows and you'll be good to go!
Butterfly Chair ($35-$40, originally $75)