This was one of those fly-by-the-seat-of-my-pants crafting experiences that turned out really well. I made the entire project, from cutting out fabric to embroidering to stuffing and sewing it up (not to mention designing it as I went), in less than half an hour, using only materials I had in my craft room. My five-year-old cousin had his first loose tooth and clearly he need someplace to put the tooth for the Tooth Fairy to exchange it for money.
I drew a tooth shape freehand onto a piece of felt folded in half (so I would have two identical pieces), and cut it out. I also cut out a blue square for the pocket, and wrote his name on it with a disappearing marker. I chain-stitched his name with embroidery thread (this part may take you a little longer if it's a long name), then blanket-stitched three sides of the pocket to the front of the tooth. I turned the two right sides together and stitched around most of the edge, leaving an opening for stuffing. I turned it right side out, using a knitting needle to poke out the points, then stuffed it, folded the edges of the opening in, and stitched the opening closed. Quick, fun and easy, and my cousin was thrilled!