Thanks for the replies. I already have some shearling scraps froma remnant pack from Tandy that I had hoped to use on another project but ended up not using (the person it was for was alergic to it.) As far as slops and spills, wasn't going to be to worried about that as I plan to put an angled lip of some kind at the top that would fit snugly around the can to prevent any spillage to make it back into the interior of the holder.
Now to sit down and work the pattern out. If I remember to do so once I'm finished with it, I'll post the final product here.