These little thumbcushions are the handiest ones I own and they're super fast to make - I have one at each sewing machine, just because they're so practical.
Since the pincushion is right near the presser foot, you don't even have to take your eyes off of your work. Just pull the pin and stick it into the pincushion, parallel to your thumb. I've never stuck myself once, and I'm a complete klutz.
I don't cut a slit in the bottom for stuffing the way the tutorial shows - I stuff right through the hole that you leave when you sew the square into a triangle. Those are two fewer steps. I cut batting into 1/2" wide strips and push them inside with hemostats.
http://loopylace.com/anniescrazyworld/?p=709
You can fancy them up with bows or flower appliques and stick a few pearl pins in them. Super fast and easy to make.
Here's one of the ones I made, in use. Very handy. :)
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