Thank you all for the comments. This is a Moda Bake Shop pattern --
http://www.modabakeshop.com/2012/11/...ing-wheel.html
It says 30 minutes, which it would probably take if you were making just one, but I was making 4. One recommendation I have is that you cut the elastic shorter than what she recommends. For a 14" steering wheel, she said 32". On this one, I used 30" and if I ever make another, I will probably reduce it another inch or so. If you look at the picture, you'll see that the outside edges don't curl to the inside as tightly as I wanted them to. I really liked the pattern because she also gave instructions on how to measure for different sized steering wheels.
People in the southern states will appreciate this during the summer. People in the northern states will probably appreciate it more in the winter.