You will need:
White satin fabric
Take a piece of white satin and cut out two 10 inch by 8 inch sheets.
Pin two pieces of ribbon, each about 8 inches in length (you can trim later if you need), to the middle of one of the sheets of satin.
Sew each ribbon onto the satin sheet. You can you an elaborate stitch: here I used heart stitches. This is where the rings will be displayed.
Pin the two pieces of satin together, the ribbon side in. Sew the two sheets together, leaving a three inch gap open. Make sure that you do not sew over the ribbons! tying them together in the middle will help to prevent this.
Turn the pillow inside out. Stuff the pillow with cotton balls.
Hand sew the three inch gap closed. You now have pillow on which to carry your wedding rings down the isle. Congratulations!