My inspiration came from this Rosette pillow from Anthropologie ($58).
It is really simple to make and adds a very elegant touch to any room. Ready? This is how I did it -
Step one: Cut out a 22" square for the front (the larger you make the front the more "gathery" it will be) and a 17" square for the back.
Step two: Using a basting stitch, stitch around all four sides of the front - gathering it to 17" as you go.
Step three: Pin the gathered front to the back, right sides together.
Step four: Stitch around (1/2" seam) leaving about a 10" opening in the center of the bottom edge
Step five: Turn it inside out - the top will be loose like this:
Step six: Stuff the pillow with your 17" pillow form
Step seven: Pin the closing
Step eight: Gather the loose fabric on the front into the center, forming a pouf - wrap a rubber band around it.
Step nine: Using a needle and thread, hand gather below the rubber band, pulling the thread tight as you go.
Step ten: Once you feel it is securely gathered, remove the rubber band and poof out the rosette. Hand tack the edges of the rosette to the pillow.
Step eleven: Lastly hand-tack the opening closed and toss it on a bed!