I combined coupons with sales to get my foam and fabric as cheaply as possible. And I scored a 100% wood (pine) table on Craigslist for $40. (Also, I ended up using a deep espresso paint instead of stain for the legs).
The entire cost breakdown for this project was:
::Coffee table:: $40
::Quilt batting:: $8
::Upholstery thread + Needles:: $8
::Nail-head trim:: $12
The closest comparable ottoman I could find was from Ballard Designs for $500 (AND it was 10 sq./in. smaller).