I just finished my very first quilt! It's 48"x48" or so, intended as a baby or lap quilt. (More photos here.)
The entire quilt top (except for thread) is "post-consumer recycled content" -- fabrics scavenged from a friend's charity bag! I used a piece of flannel sheet for the batting, since I didn't want it to be thick. The backing is new fabric because I couldn't scrounge something that worked. It's machine-pieced and machine-quilted, and from now on I will be doing hand-quilting -- it takes longer, but the machine was such a pain and it's MUCH harder to control how it comes out.
I'm already at work on the next similar-size quilt -- made out of recycled flannel shirts!