I saw this on the latest blog that I've started stalking, Sew and The City, and I thought that I had to try it!
Sew Mama Sew, then cut out 6 pieces of your chosen fabric (just make sure you cut along the bias, otherwise they'll stretch the wrong way!). I believe that Irina at Sew and The City used a pattern with 8 segments, but I didn't notice that till I'd made this already! To find the bias of your fabric, fold a corner of the fabric at 45degrees to the selvedge. The fabric should have a certain stretch to it now, which will help create the ball shape. (as an aside, how cute is the fabric I've got in the pic below? It was a remnant, and $2.20 for 60cm! Bargain!)
Fill the ball with polyfill, and if you like, add a small container with some beads or a bell in it to add a nice little jingle.
Then, sit back and watch the kids fight over who's turn it is to have it! Argh!