Since it is only 3 feet long and 1 foot deep I browsed through the remnant pieces, and low and behold they had this perfect natural linen, marked at $1.60 for 2 yards! Wowie! That totally made my day, until a sales lady cutting the foam I needed pointed out that remnants were on sale today: buy 1, get 2 free!!! So I quickly went back and picked up some white upholstery fabric (you never know when you can use this, and I always keep a few yards hanging around) and this gorgeous blue and turquoise fabric.
All for $1.60!!! The foam came to a whopping $3.50 so all in all I finally got this bench done for $5.10 (I guess even less if you divide $1.60 by 3, but those are just bonuses to me).
I think I will put this at the end of our bed, so the dogs have a hangout.