Once they (Disney) license a company, such as Benartex (example) to create fabric such as this, Disney can not control what the end user makes with the fabric, or if whether what they make is is sold, given away or whatever... to be best of my understanding.
They have no license with you, you have agreed to nothing. However you can not then claim that the product you created is Licensed by Disney (for example). I'm pretty sure that you could say that Disney-licensed fabric was used in the making of the product, but check with your own legal counsel before taking my word! In essence, Disney can not tell you what do with your fabric any more than General Motors can tell me where to drive my Tahoe.
:-D