See bottom of post for update.
Jimmy Choo's 'Hunter' Rain Boot retails for $395 at Nordstrom. Rachel Bilson has been spotted in these boots, wearing them back in October (I love this outfit!). (Photo credit/Find Credit)
These boots by Rampage are a great inspired by option if you want a similar style boot for less. They are currently on sale for $39.95 and you can click on the photo below to purchase.
*Update - 1/15/10* - Reader Christina emailed me another alternative for the Jimmy Choo Hunter boots but they aren't a bargain basement find (although they will save you some $$). These boots by Pour La Victoire retails for $215.95 and also come in brown. Click on the photo below to purchase.
*Update - 2/11/10* - Reader Julie also brought these Hunter Boa embossed boots to my attention. Although they are snake print instead of croc, they are another alternative for those who want an inspired by boot. They retail for $225 and you can clik on the photo below to purchase.
Reader N just commented below that Urban Outfitters now has a version of these boots, which retail for $38. You can click on the photo below if you're interested in purchasing.
*Update - 8/25/10* - I'm not sure if any of the previous lookalikes are still available, as this post is from last winter, but Julie just emailed me this great option from Payless by Christian Siriano. They retail for $49.99 and you can click here to purchase.