You will need..
...and a sewing machine.
EasyWell, I presumptuously say easy. It does involve sewing and requires a reasonably steady hand but if you've got those skills down, this one's a straightforward evening's-worth of a DIY.
TimeA few hours - I slacked off big time and was very distracted so I'd say 2-3 hours, tops.
Haute to trot...
Top-stitch satin binding along the edge and attach two 'manes' of fringing.