Well, on Christmas Eve I was hit simultaneously with a wave of mommy guilt and an offer to babysit. A short hour later, I had these reversible dishtowel apron's sewn, wrapped up, and under the tree.
All you'll need is a few feet of ribbon, about 6 inches of bias tape or binding and of course, a dishtowel. For my son, I used a reversible dishtowel (the stripes). I fell in love with the the bright polka dotted dishtowel for my daughter. Since that towel was not reversible, I ended up backing it with the pink fabric before following the steps below. I really recommend sticking with the reversible dishtowel-- it makes the project go much faster.
Turn the binding to the 'wrong' side as shown. Sew along the inside edge of the bias tape as shown below.