I made this last weekend, only took me a few hours and I really like the result. Simple as hell, it is just a huge granny square in several colors that is fitted around a stool. What make it even cooler is that is covering a stool my great grandfather (who died way before I was born) made!
Here are some photos:
For a really nice and beginner friendly tutorial for making granny squares, check out this video from Jayda Institches: