I used felt for the base to which I added the yoyos by stitching on and sewed buttons onto each yoyo. Then I attached the metal ring (macrame' ring) & a little plastic ring on the backside ( for hanging the towel holder)... add a wooden spoon, a towel, tie on a bit of frayed burlap & Voila! instant cute towel holder.
The magazine used felt for the yoyos but I found them to be to bulky for my liking and choose to use a sweet yellow print fabric. Click on the photo for a closer look.