I was doing a swap and found this idea on my partners Wist. The original project can be found at this address http://www.marthastewart.com/article/toadstools?autonomy_kw=toadstool (I can get the dad gum html to work!)
I didn't follow the instructions exactly and I think it makes it a little easier the way I went about it! Martha Stewart's site tells you to use several different things to make it, but these are the things I actually used
15" (or whatever you feel is a good size) plywood (I used OSB because I got it free!)
13" (just about 2" smaller than the first piece) plywood (used OSB here, too)
15" circle polyfoam DO NOT get the high-density foam they recommend on the show's site - you'll pay out of the rear end for it! I checked at the uphostery shops in town and what I would need to do this would cost $30-$45! I went to Hobby Lobby and got 2 pieces of polyfoam and glued them together with Elmer's Craft Spray Glue. Works like a charm and only cost me $10! You also don't need the glue gun or glue sticks to attach the foam to the wood. Just use the spray stuff again.
Electric knife - Don't worry about how bad it looks when you round it off. Mine looked absolutely terrible and I thought about scrapping it, but once you pull the felt tight it looks perfect!
Staple gun and LOTS of staples
30" circle red felt. I got a yard and have enough to do 2 more!
Batting - I used the cheap stuff from Walmart
Felting needles - I used one single needle and the Clover felting needle with 5 needles
Using these materials I pretty much went by assembly instructions. The only change I had to make was to cover the small disc with fabric. Since I was using the OSB board my surface wasn't smooth so I didn't want to just paint it. I got a light brown fabric, followed the same instructions as putting the batting on the large disk and Tada!
Since I was doing this for a swap and didn't finish until the night before I had to send my package off I didn't get a great picture of it! The log should be a bit skinnier and shorter, but this one was closest to the house!
This only took a few hours to make start to finish. It could have been a little quicker, but CSI was on!