Well, I needed a coaster an thought I'd have a go of making one.

It's made from fabric and plastic with pictures visible from the top.

I played around until I came up with this method (though I'm sure it probably exists out there somewhere already :p)

From the bottom up it goes:
fabric, plastic, fabric, pictures, plastic.
Stitched all the way around and trimmed.

No more watermarks for me!
Enjoy :D