My boys love theirs... my mom bought them for them from Pottery Barn Kids. They were a little pricey, but I have to say they have really stood up to a lot of abuse and the cover washes really well. They are denim with their names embroidered on them and we have had them for 3 years now.
We have the PBK ones too. Love them!! If your kid's going to get a lot of use out of it, I think it's worth spending the money. Shoot, dh and I might use them after the kids grow up and move out!