It was really simple to make. I just used a plastic kid's plate as a template, cut out the circle, gathered it, stuffed it with cotton batting and fabric scraps, then sewed it closed. I made a quick tube for the wrist part, fed elastic through, attached it, and voila! Quick and easy.
Total cost: zero
I found the pink bandana I used as fabric in my misc. art crap bin, I had elastic on hand from my diaper customizing, and I used fabric scraps and batting I had leftover from my fabric block project.