I visited RC Bazaar yesterday, saw this simple landing gear on a model and tried to replicate it. I used a humble bicycle spoke to make this nice, if not great, landing gear for small r/c airplanes.
It's ultra cheap, takes almost no time or extra resources to make one and it's light-weight.
It has spring-action to it which means, it can absorb shocks from landing impacts to a certain extent.
This landing gear can be used with models weighing between 100-400g, you'll just have to play around with the ''swing arm'' length to optimize shock absorbing capabilities; shorter the swing arm, stiffer the setup will feel. 

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A brief video of how to do it

Very neat...and easy way to make landing gear out of bicylce spokes...

great cool awesome