Step 6: A touch of class...
I couldn't find burl walnut or the other exotic woods they use in a Rolls-Royce but here is something that looks close to what real wood looks like.
Cover your armrests with the faux wood finish.
Pay attention to the way the grain should be running, along the length of the armrest. Cut slits at points where the shelf-liner paper does not bend like at corners to ensure a smooth cover.
Leave a bit of the bare cardboard exposed on the back so you can glue it to the armrest supports on the side consoles. I used some gap-filling polyurethane-type glue to glue it together. A rubberband and a paint can to weigh and clamp it in position while it dries.
Make sure your armrests are oriented correctly.
When dry, test fit it again on your chair.
Take some stiff wire, or if you have "gardening staples, used to pin weed control fabric to the ground", and bend them into an "L" shape.
Push it into the armrest support as shown. This forms a hanger system for the side console to hang off the arm or your chair. Different chair armrests may require velcro or a more substantial metal support rod or bar.
Yeah, I know the chair isn't black leather upholstery, but make do with what you have.