I like both of these graphical designs from Banana Republic. Obviously, "Drop Your Pants" (on a Friday, no less) is an attention-getting graphic and subject line. (I assume the open-rate was their highest ever.) The post-Thanksgiving design is great just because of the unusual color combination: totally mashed potatoes and gravy. The cute little gravy boat icon is, well, "just gravy."

From: BananaRepublic.com
Subject Line: Drop Your Pants for charity, get 15% off...
Date: Friday, July 21, 2006

From: BananaRepublic.com
Subject Line: Starting tomorrow, get a $25 Shop Card online & in-store...
Date: Tuesday, November 21, 2006