We've recently been able to check off a few things from our "to do list," the first one being my ottoman project. I'll be honest, once we got started, there were several times I thought this was going to look really awful, but I think it turned out ok. But, was it cost effective?
You need the following items for an ottoman like this one: 2 yards of fabric, plywood, batting, staples/staple gun, four legs, and enough foam to reach your desired height. As long as you get a good deal on your fabric, the most expensive item is the foam. The whole project probably cost as much as a cheap store bought ottoman. So, depending on how you look at it, you may not save any money. But, it was a lot of fun to make, and we were able to "design" it specifically for our not-yet-delivered new couch. Besides the time spent planning and gathering materials, the whole thing probably took only an hour or two, and the hardest part was getting the legs to attach. There's nothing special about it, but it makes a good foot rest and an extra seat in a pinch - let's just hope it holds up!