What is so different about homespun fabric that you can't use it for quilt squares? When I think of homespun, I think of a loose weave and coarse threads, am I right?
I probably would cut each fat quarter into 4 pieces and make a 4 or 9 square block out of them for an old fashioned look and then tie the quilt. Use flannel on the back without a batting, I imagine the fabric is heavier than cotton.
Carol J.