We started with this little stack and added two circular placemats and a piece of ribbon I already owned.
The whole redo took about 30 minutes. (plus wait time for photo developing)
I made a valance from one set of placemats and the ribbon:
Used the other placemats to mat photos for the wall:
Hung the shower curtain and swapped out trash cans:
I like it. We needed color so badly and in this small space this was just enough.
Cost?
Towels: on hand
Shower Curtain: $10
Liner: $5
Trash Can: $10
Place Mats: $4
Frames: on hand
Photos: $1.58
Ribbon: on hand (since my wedding shower!)
Total: $30.58
thebluehutch.com 
So THAT'S what the placemats were for–so very clever! The bathroom looks great! I love the polka-dots :).
Love it!
Looks so good! I esp. love the polka-dot placemat frames!!
That's so impressive, Becky–I love checking out your blog! Summer Sisk O'Neal