It may not be exciting but it is part of life and I have found that cloth pads (which I use as well as a Diva cup) are more comfortable, cost less and produce much less waste than a regular throwaway pad. I have also heard that they are better for your health.
After planning to make them for several years I finally got it done this year and was disgusted with myself for putting off such an easy project for so long.
I choose to use all re-purposed stuff in my pads which made them free. Flannel (which is where the old sheet comes in!) is a very nice top layer. Absorbent terry cloth is good for the middle - old wash clothes and towels were put to work there and then I read that fleece would work good to work as a barrier cloth on the bottom - I used old pajamas for this. I works good to have Velcro or a snap or something to hold it in place. I used some old Velcro from some pants we had made into rugs.
Cut your terry cloth into the size you like your pads to be. Layer it up as thick as you think you want. Zig-zag the layers together. Then sandwich the terry cloth in between the flannel and fleece that was cut a little bigger and with wings on it. Zig-zag around the edges to hold all that together and then sew again around to hold the terry cloth in place. The last step is to add the Velcro and then you are all done. It is truly very simple and you can make a bunch of them in an afternoon. After use just wash well in hot water.
Here is a link to another person's method of making them. You can find many instructions online.