As versatile as that piece could be, you could try anything and if you didn't like it much or tired of it, just change it up again. Do what makes you happy.
I like Chris' idea of changing with the seasons or holidays. Really depends on where you will be using it. Hugs. Nan w
Wow what a find, to do it as a match for you love seat would be perfect.
Marian
Love the seat insert, you can change the cover seasonally. Love Chris
It's such a wonderful embroidery "blank", I'd personally want to put a design on non-white, non-dirt showing fabric, such as a floral design on a black heavy cotton background. But, you might decide to match your loveseat and always keep it nearby! Great find.
Here is the footstool, with the insert it just rest on a small edge, Just drops in.
A photo of the footstool might help with input...