I found this tray cloth at an Op shop the other day - the embroidery is intact but the fabric was spotted and thin in places - but lo, and behold! my friend Kirsty has a tutorial on her blog to make beautiful travel pin cushions. Go here and find it on the left hand side bar.
I love how easy and quick they are to put together. You could even do some stitching while waiting in the queue at the supermarket!