Proof that some multi-billion dollar congolmerates still have a sense of humor, the following is the cover of the SWATCH Group's(previously mentioned) 2012 annual report, complete with parody arms for each Canton
Here's a higher-resolution image of just the coats of arms:
If you live in the Confederation, you can buy a special limited-edition SWATCH, the D'Schwizer, for about 100 CHF with all the arms on it. If you don't, you may not be Swiss enough to get the jokes, so here's some help from wikipedia.
(source and source)
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