The Nomad Portable target made by new manufacturer dgNomad became PDGA approved at the Basic level on 5-31-2012. Note that target has no basket. You hole out by striking (or landing in) the plastic chain assembly.
"The new NOMAD, an ultralight pole-style target developed in order to help introduce the younger crowd to disc golf, will ultimately be useful to players of all ages. Not only can the kids haul them around on bikes to play at the corner lot, but your local club now has the ability to host a tournament anywhere they choose, as an entire 18 hole set only weighs about 50 pounds and fits in a backpack." — dgNomad