Felt is nice. Of course there are better quality materials, but felt isn't bad. I've made some felt plushies before. I made an "emo kid" doll when I was in my teen angst phase (still have him though 'cause I'm rather proud of him) and I made some kitties for my friend. I have one friend who made all the members of My Chemical Romance.
So it's an amazing starting point and sometimes I find myself going back to it for sentimental reasons.