This was an easy project that only took a few hours from start to finish. Not including the stain and polyurethane, which I had on hand, total cost was $40.00.
Step 1: Materials
-Foam topper (varies depending on pallet size)
-Fabric (2 square yards)
-Stain of choice
-3 inch blocks (x4) (optional)
Step 2: Select Pallets and Fabric
When choosing the pallets the size isn't as important as making sure the 2 pallets are generally the same length and width. If one is slightly larger use it as the bottom since the smaller pallet will make up the difference when the foam topper and fabric are applied later in the process.
Measure the largest pallet, length and width, prior to selecting and cutting your fabric. Remember that you will be wrapping the fabric over several inches of foam, so be sure to leave yourself some room. Our pallets were 48" X 36", and we used 1.5 square yards of material. It made it a little harder to get enough material over the foam to attach to the pallet, but still worked alright. 2 square yards probably would have worked a little better.
Step 3: Sand and Stain
Sand pallet to remove rough edges and splinters. Apply choice of stain. In the interest of time we only stained the visible portions of the bottom pallet (see picture). We used 2 coats of red oak stain and wiped each coat with a rag after letting it sit for a minute. We were going for a more rustic look so we used light sanding and wiping the stain. Next apply polyurethane. The more coats you apply the shinier it will be. 2 coats were sufficient for our purposes.