A headboard like this generally doesn't merit a second glance. But if you have an aversion to useful items being tossed, a head full of good design ideas and a friend who is handy with a needle and thread, the ugliest of ducklings can become a swan.
She took a plain wooden headboard "and then wrapped it all up with an egg crate mattress pad (cheapest foam out there!) and batting and some peacock blue velvet and stapled everything into place." for an upholstered one.