Despite the many improvements Apple has made to the iPhone over the past five years, there are still some things missing from the handset. One of the biggest omissions, for a lot of folks anyway, is the lack of external notifications.

And Apple must agree, to some extent, because it added the LED Flash for Alerts feature in iOS 5. But the makeshift solution doesn’t quite cut it for everyone, and that’s where the myLED external notification light comes in…

MyLED is an accessory that features a micro LED light and sits in your iOS device’s audio jack to “ensure complete visibility.” It can notify you of anything from new Twitter and Facebook alerts to missed phone calls and emails.

And thanks to the myLED iOS app, the thing is completely customizable. You can program which notifications you want to be alerted for, and choose the blink pattern. Headphones? No problem, myLED comes with a headphone clip.

Of course, by now you’ve figured out that myLED is a Kickstarter project, and it’s goal is to raise $18,000 over the next 30 days. If you’d like to help, a pledge of $15 gets you on the pre-order list ($10 and $13 pledge options are gone).

Obviously myLED isn’t for everyone — it’s certainly not for me. I think the bulb sticking out of the headphone jack looks tacky. But, I can think of a number of people, such as farmers who ride around in tractors all day, who’d be all over it.

What do you think of myLED?