These are the three bottle cap pincushions I made to exchange. They were super easy and fun to make.
SewStylish Gifts to Make Magazine, Holiday 2007, http://www.besewstylish.com/ had an awesome article called Pretty Pincushions that illustrated step by step how to make the bottle cap pincushions.
The cushions make great gifts and can be embellished till your hearts content! You make the pincushions from recycled bottle caps, scraps of fabric or felt, scraps of fiberfill.