I cut 6.5" squares, then sewed them into rows, then sewed all the rows together into a quilt top. I bought the cheapest battling I could find, and it was nice and puffy, just the way I wanted it. After it was all sandwiched, I used the largest pot lid in my house to trace the hole, then cut it out.
I then bound the whole thing in red bias tape that I purchased as Hancock Fabrics. I sewed extra pieces on for the bows to secure it around the tree.