Sara and I saw these various places and thought we'd give it a try.
We mainly worked from the tutorial at Prudent Baby but we used fabric instead.
Sara read the directions better, those wrinkles are because I was impatient and didn't let the Mod Podge dry. Also in the picture below is a coaster made with paper on top.
Next to try is sealant spray and maybe an idea I have for covering the edges on the fabric ones.