This really was one of the thriftiest and easiest ideas I've heard in a while!  I was telling a friend how I wanted to make a crib skirt because they cost WAY to much money in store.  
This is her genius idea: use an Ikea curtain.  I'm sure it would work with any other curtain too, this was just her comment, and I happened to have 2 on-hand.  
A while back I made curtains for our apartment in California.  They had Velcro across the top and I embellished with some red and white fabric.  If you want to see that post, 
go here.  That was barely over a year ago.  They were taken down and put in the excess fabric bin until now.  
Yesterday, I took one and laid it out wrong side up (I didn't feel like taking the time to take off the red/white fabric).
See, no red/white fabric and the material already has small running stitches, so it didn't matter.
Then using a sharpie and measuring tape, I used the running stitches as guidelines, and marked my lengths to cut.
The very bottom of the drape I used as the front of the skirt.  A width of this curtain fits almost perfectly across the crib front.  The sides are almost exactly half the width of the front.  However, I still cut one for each, you could get away with chopping one in half and hemming the side.  The bottom was 27" and the 2 sides (since they would need a bottom hem) were cut 28".
Then I embellished the front of the crib skirt.  Easy, something attractive, and simple.
So here's what I've been looking at under the crib (such a good place for storage!).
And now I see this!  I'm loving it. 
The HOW-TO: put the front piece in position and 
TAPE to the board (that your crib mattress sits on).  Duct tape would work best, but I just used clear packing tape.  It's what I had on-hand.  You will have about 
5 inches extra to work with.  For the sides I folded the fabric in half and did the same tape job. 
Why tape? Well, eventually we'll lower the crib mattress as our little boy becomes jumpy and mobile, this way I can reposition the skirt to meet the height of the mattress.  Easy and the skirt 
doesn't move around!  Nothing more annoying that a wiggly bed skirt when you change the sheets.
So that's it.  I do like it.  It was easy, functional, not overly bold, and repurposed! 
A side-note.  Here's a blanket that I just received from my mom-in-law.  She has been a crocheter in the past, but has give up her needles for this instead.  She did a great job!  The little ruffly edges are impeccably cut even.  Hours of love went into this one. 
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