Long-standing libertarian Phil Manger has suggested Sarah Palin as a libertarian presidential candidate. She might run as an independent, a libertarian-oriented Republican, or (although this wasn’t Manger’s suggestion) a member of the LP.
Under any scenario, she’d receive more votes than 2008 LP candidate Bob Barr if she did run as a presidential candidate.
See, Independent Political Report: Manger Suggests Palin as 2012 ‘Libertarian’ Presidential Candidate.