I know these aren't new, but they're new to me. I've never made them before although I've seen them around. I found the instructions here called "Penny's Easy Holiday Coasters" but there were no pictures to illustrate them. I made a few of these this morning and decided to put up pictures of my steps.
These should probably be made with 5" squares but I had a bunch of 4" squares left over from my last quilt to play with. You could also put a piece of batting between the bottom two full squares if you wanted to but I'd cut the batting 1/2" smaller to decrease the bulk you're sewing through. For the example at the bottom I used a 3 1/2" square of batting with my 4" squares. Wouldn't these be cool at a party at the base of wine glasses, especially if everyone's were unique? They'd be able to tell which glass was theirs, unless they were totally obtuse like some people I know. I'm already thinking Christmas gifts in stacks of 4-6. Hmmmmmm.