I recently made these checkerboard coasters as a host gift for someone who enjoys board games.  I thought they'd be fun to have out during a game night or just to liven up a dinner.
They didn't take too long to make, and it was exciting to see the materials come together.  The hardest part was finding the patience for making all the squares.
Materials:
- Some underlying coaster material.  I used PVC board from the art store.  It's used for modeling projects.  You could also use chipboard coasters or pre-made coasters but they need to be 4"x4" or able to be cut to that size for this project.
 
- Red and black paper 
 
- Mod podge or some other kind of acrylic gel medium ( I used the Utrecht brand).  You can choose between gloss or matte finish.  I chose gloss.
 
- A brush for the mod podge application
 
- Scissors 
 
- Pencil
 
- Spray fixative, available at all art stores.  (I used Krylon).
 
- Utility knife (if you need to cut the coaster material to size)
 
- Cutting board (definitely not necessary, but I found it very helpful because it has a measured grid)
 
Step 1:
Grab your PVC board. 
Step 2:
Cut the PVC board into 4"x4" squares with your utility knife (I made a set of 4 coasters but you can do more or fewer).  I swear this is not very hard.  In fact it was so easy, I forgot to take a picture at this stage.  All you have to do is mark of a square with pencil, and simple keep pushing along the lines with the utility knife.  It will take a few go-overs before it cuts clean, but it cuts really clean.
Step 3:
Cut 4"x4" squares out of the red paper and affix to the PVC squares with mod podge/acrylic gel medium.  I actually gave myself a little extra room on the paper squares just to make sure they completely covered the coaster.  It's easy to trim the edges once they are attached on.
I did a coat on the bottom of the red paper to make sure it was attached to the PVC, and then a top coat (this is the really important one), which makes the paper hard and water-resistant.
Step 4:
Cut out 1/2"x1/2" black squares.  You will need 32 for each coaster (that's 128 for all 4 coasters).  This was probably my least favorite part of the project.  But the grid came in very handy for marking off the right sizes.  (Sorry for the blurry image below).
Step 5:
Affix black squares onto coaster by putting mod podge on the back of the black squares.  It helped me to look at a picture of a checkerboard to make sure that I got the pattern right (it's not that hard, but who wants to mess up at this point?)  
Because cutting paper squares out is not quite an exact science, I had to be careful to check for size issues to make certain all the squares ended up fitting properly.
Don't worry about it looking exactly perfect--the homemade quality adds to the charm!  Just make sure you can fit all your squares.  On a couple of coasters, I ended up specially cutting out a couple of extra large or extra small squares to make up for tiny differences in square size.
Step 6:
Add mod podge over the top of all the coasters.   Let them dry for an hour or two.
Step 7:
Take the coasters outside or to a well-ventilated area and spray lightly with fixative.  Give them awhile to dry, and you're done!