I had some extra time this week to finish my coasters. I've made fabric ones in the past, but I wanted to try paper ones. I have oodles of cute scrapbook paper that I thought would make nice coasters. For these, I chose greens, yellows, and browns -- the main colors in our living room, where these coasters will be put to use.
They were really easy. Just some scrapbook paper, corkboard, Mod Podge, and 1/8" ribbon to go around the edges (I originally painted the edges a matching green paint, but I thought it looked sloppy, so I glued ribbon over the paint instead). The most time-consuming part was getting the ribbon around them. I had to glue one side at a time and let each side dry (and I'm not patient enough to hold the ribbon to the cork, so I had to rig a contraption to hold it for me so I could go do something productive while it dried) before continuing around the corner to the next side.
I finished them off by painting several layers of Mod Podge over the top and sides, to protect the decorative paper from becoming soggy from water rings. Here is one of my coasters at work :) :