I've thought about making one also, was going to get fabric while on vacation in the Bahamas and make one to celebrate our anniversary since that's why we took the cruise. Needless to say, I did not buy any fabric but can get it online later if I want to.
I researched the pattern, def. not for a beginner. I did read somewhere that you can cut out the rings in one piece (halves) instead of sewing muliple pieces together but even at that, it's more than I can take on right now. A new resident at work has one on her bed, they are quite lovely.
Go, go, go. You can do it.
Kathy