I made my own (turned and topstitched) in both flannel/flannel and flannel/terry. We liked the terry at first, but it has since gotten kinda crunchy (from hard water perhaps?) so I only ever use flannel now. If I were starting over, I'd just cut up some old receiving blankets and use those instead of going out and purchasing fabric from Joann's (although I did get good deals when it was on sale and/or in the remnant bins).
SAHM to DD (Sept 2008)
and DS (June 2010)