I know we mentioned in this accessorizing your walls post that areas smaller than 3 feet wide don't necessarily need to be accessorized, but I really like the use of shelves/coral in this corner. It adds very subtle, simple texture that doesn't compete with the rest of the room.
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Also loving the long lumbar pillow on the sofa, and the fact that they used a painted basket topped with glass for a coffee table. I think this room could easily be duplicated on a small budget.
Hope you all had a wonderful Christmas. Enjoy your weekend!