I put right sides together and then just sewed the bottom piece leaving the back open. I put both pads back in, to give more padding and because I allowed a larger seam.
I then pulled the back tight and pinned it. I folded two ribbon pieces and pinned them where I wanted them to tie onto the frame on the back. Then I machine stitched. Yea, I know it looks pretty ghetto, but it's my first time. And it's in the back.
I did the same for the top piece. Stitched right sides together, but only put the new pad in. Then machine stitched the bottom. I marked where I wanted the ribbon in the back and then hand stitched it on. To make the pad look 'puffy', seriously I don't even know what the term is, I just hand stitched front to back a bunch of times, pulling it tight each time until it gathered. I used a thicker thread so it wouldn't break, because you have to go through the pad. I also noticed I usually have a bunch of junk in the background of my photos, yeesh. I'll get to that.
And she's done! The whole project including paint and materials to recover was about $55. Huzzah. I painted the frame white after sanding, and let it dry before replacing the pads. The corners of the bottom piece I also hand stitched a little stitch so they were tight against the curve. I have still to complete the ottoman... another post for another day. :) Let me know what you think or if you have questions! (Sorry for the lack of step pictures)