Pin a long edge of each white felt fringe strip to each end of the runner, overlapping by 1/4 inch. Blanket-stitch in place. Cut 2-inch-long slashes into the strips at 1/4-inch intervals.
Pin the pillow squares together with the wrong sides together. Using a small zigzag stitch, machine-sew the front to the back, leaving a 5-inch opening along one edge for stuffing. Stuff the pillow with fiberfill and sew the opening closed.