A site called Above the Law has some interesting speculation on the candidates Obama might pick. They suggest Clinton's name and noted that "having a penis is a bit of a disadvantage for potential nominees right now." I guess if we take ATL literally that means we can surely rule out Tiger Woods.
But in all seriousness, Clinton might want to take on a new challenge. Besides the fact that I think Clinton is bored at the State Department, what really makes me think Clinton might want this position is that she is hyper-political and is unwilling pass up the opportunity. She is hyper-political because she moved to New York to run for US Senate. She wanted a name in history. She even ran for president and threw everything she had at Obama. But her time in politics is numbered and she knows it. Remember when Clinton's name was being thrown around for the New York Governor's race -- maybe it was because she knew there would be a few openings on the Supreme Court?
Liberal commentators suggest Clinton would be the perfect nominee for Obama for a number of reasons. Primarily, she is a known quantity that has been vetted by the public because of her presidential run, her role as a US Senator and first lady. How could any Senator reasonably beat up on one of their former colleagues? She was confirmed by the Senate for her position as Secretary of State with a vote of 94-2. Obama would effectively be neutralizing the polarizing Supreme Court battle we are traditionally used to, while buying himself some political capital and breathing room.
Second, by nominating Clinton to the Supreme Court Obama could effectively cross her off the list as a potential opponent for 2012, which seems unlikely anyways (but better safe then sorry). Third, it would allow Obama to take new control over his foreign policy agenda and replace Clinton with someone he more closely aligns with politically. If Clinton were nominated and passed the Senate she would be the first woman to serve in all three branches of government. What a place in history! The one major drawback to Obama would be Clinton's age, but she is in good health.
One could also make a case that with Obama's low approval numbers he doesn't want to start a fight with the Republicans over a controversial nominee right before the 2010 elections. And while Obama could use some greater outreach to female voters, I'm not sure he is looking to do it the Tiger Woods way. And besides, Hillary Clinton better represents the "empathy standard" Obama proposes for his judges even if Tiger Woods does win another Master Tournament this weekend.