I'm entering this in the Sew Useful contest because it's useful not only to beautify your tv but also to promote marital harmony. I think a husband (or wife) considering getting a flat screen against the wishes of their spouse should consider investing in this TV cover. After all, what's $30 when you're spending thousands on a tv?
The tv cover pictured fits a 40 inch Sony Bravia and is for sale at my etsy shop here: http://www.etsy.com/view_listing.php?listing_id=6393753 .
Step 1: Gather materials
Flat screen tv (wall mounted works great)
A piece of canvas or duck cloth (something sturdy) as large as your tv
Heavyweight fusible interfacing--large enough piece to cover the front of your tv (optional)
Fabric scraps to make your design
Fusible webbing (different from interfacing, this is "sticky" on both sides when ironed--Heat'n'Bond is an excellent brand for this project)
Approximately 1 yard of cotton fabric for edges (depends on the size of your tv)
Enough 1/4 inch elastic to wrap around the perimeter of your tv