The cheapest thing I do is quilt.
Fabric comes from thrift stores and ebay.
Thread from ebay. Hint. Search for "mixed lot thread".
I buy bed liners and old blankeys for batting.
I feel like if I spend too much on a quilt for someone, its more like I bought it and less like I made it. Shipping is the kicker. My 5 dollar project becomes a 20 dollar project! Lol
I feel obligated to the tradition of using what is available, so I'll probably never visit this joanne person you all speak so highly of.