I think the Little Vicky is the sweetest prep knife for hiking. I do think that the inside of the sheath would be hard (nearly impossible?) to clean, if you didn't wipe all the cheese/sausage off the knife before inserting it back into the sheath.
So I made a few of these, using 1" tubular webbing:
I expect the chipmunks will be impressed with my stylish matching sheath. But to impress the bears with your Bear Grylls persona, there's another option:
I sealed the end near the knife tip with a hot knife, but if you left it open, the inside of the sheath could be easily cleaned with a round brush. But I consider these to be disposable--when they get dirty, toss them.
The original knife with its sheath weighs 23 grams, and with the webbing sheath it's 21 grams (what savings!). The webbing sheath could be sewn to your shoulder strap or hip belt for quick access. And if you really want to geek out, you could make the sheath out of 1" tubular Velcro, and then sew the mating piece to your shoulder strap. That way you can have a sheath that attaches to your pack but can also be taken to the food prep area.
I bought all my hiking friends one of these knives for X-mas, along with a red tubular sheath. That's how much I like this knife, and also my friends.