I just finished up this little cute-y just in time for a birthday party tomorrow. I used Michael Miller's Merryville fabric and quilted it with Blue Play Dot as the backing. It is bound with Red Pindot Bias Trim. Then we (I had my employee, Maribel, bind it for me- hers looks so much better than mine) just used 14 inch long strips of bias trim to use as ties.
I am not an expert quilter, but I didn't think this came out too badly. I just started in the center of the mat and carefully quilted around the design on the road. And yes, in some places the fabric is a little gunched up, but I figure that is just part of it. A couple of machine washings and no one will notice, right?
UPDATE 8/1/2008: I wrote up a general tutorial here.