I can't stand anything more than spending money on pillows. Which sucks, because I absolutely loooooove pillows and their pillowyness :) I usually won't spend more than $5 on a pillow unless I really really have to have it....then maybe I'll spend up to $8 (and thats pushing it).
So, I usually try to find the ugliest pillows ever, because they're usually the ones on clearance, and cover them. I found this sweet thang and its three friends on clearance at wallyworld for $3.
I found some black satin fabric for $1.50/yard. I was able to cover two pillows with it. To start the pillow cover, stitch the two short sides of the fabric over, then just fold the fabric into a square, slightly bigger than the pillow (make sure the two stitched sides are overlapping and the unfinished side is up). Now, just stitch one of the open sides together, then the other. Here's what the cover should look like when its all done:
Turn it inside out and stuff the pillow in the opening created by the two ends that overlap:
Once the pillow was covered, I used some white remnant fabric to tie around it, I then added a stencil of an R with fabric paint. And voila! The once ugly too too bright clearance pillow looks like a $40 pillow....which only cost $3.75 :) Happy day :)