I made one the other day using a fold out ironing pad that I picked up at Joann's and stapled to the board I was using and then put a layer of muslin over that.
I have also used the TV Tray idea for right next to the sewing machine. I simply bought a replacement ironing board cover from WM and stapled it to the wooden TV Tray. Nice size for ironing pieces and can be folded up and put out of the way.