Around the time I moved into my new place I scored two free futons (one off the street, the other from a friend) that were begging for a makeover. The upholstering was super easy as they were essentially big pillows and only required some measuring, machine sewing three sides then hand stitching the fourth.
BTW, Ikea sells upholstery weight fabrics at great prices (I just discovered this last month!). Plus, they have really great big prints. I went to a bunch of fabric stores looking for fabrics, but I ended up loving Ikea's selection over everything else I saw. I went safe and got 7 yards for each futon but ended up only using 6.
The back piece is a foam roll. I covered it by making drawstring edges on each side using cords created from leftover fabric.
While I was waiting for the fabric on the above futon to be cut I talked a bit with two guys who were buying the same fabric. It turns out that they owned an independent record studio and were going to line the studio's walls with this print....Bold move gentlemen, bold move.