I made my first ATC's awhile ago for a Swap that Mellisa is hosting at Bad Girls. They have a real "deconstructed" look, very messy stitching. I have to say they were pretty fun to do.
Last night I stitched together these ATC wallets that can be used to take your ATC's to an event to trade. I used Amy Butler fabric on both. One is done with white felt, and the other with white fleece...the fleece was easier to use. I made changes on the second, using the fleece instead of the felt (too thick to work with) and also did a lining with the fleece, stitching the pieces together inside out and then turning over.