Choose three coordinating fabrics and cut three circles. I used a bread plate from my china set for a template.
Then, cut the two pieces you want to use for the top into quarters. The piece for the bottom should remain as a circle.
Piece the four quarters in an alternating pattern.
Sew the top to the bottom piece with right sides together, leaving about 1.5" opening. Turn right side out and stuff with polyfill. Stitch the opening up and voila!
To add a decorative touch, sew a button in the middle and wrap the pin cushion seams with yarn using an embroidery needle.
The finished product is a little wonky but it functions like it's supposed to and I kind of think the wonky-ness is endearing. Anyway, give it a try. Minimal investment in fabric and time - you can never have too many pin cushions, right?