IKEA Shelving Becomes a Mid-Century Modern Sideboard
The best DIY projects are a) simple and b) make use of materials that you already have kicking about at home. This brilliant tutorial from IKEA Hackers turns an Expedit shelf into a funky, mid-century modern sideboard. If you don't already own one of these units (let's face it, 99% of us do) you could easily grab one off Ebay.
If you're feeling extra creative, you could make it even jazzier by adding some hairpin legs. Again, these are easily found on Ebay. It would make the project a little more expensive, but a lot more authentic AND still at a fraction of the price of a brand new sideboard.
You can read the full tutorial at IKEA Hackers.