For those of you wondering how to decorate a studio, or just living in a small space, I've always emphasized that dual-purpose furniture is key. A pull-out sofa will accommodate overnight guests and serve as seating during the day. At 66" wide, the West Elm Convertible Sofa ($799) is a great size for a studio. It will fit two people comfortably in front of a coffee table (or storage ottomans!) and unfolds to be used as a bed when needed. It's only available in two colors — light camel or pumice —. But, I think the colors are pretty versatile, especially if you personalize the sofa with your own accent pillows and a throw.
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The pillow thing is a smart idea. 
West Elm has super super cute accent pillows and quilts etc . . .also some of the Pottery Barn stuff can fit in with the West Elm "organic chic" look. BTW they are having a pretty sweet sale right now(just got me some bamboo sheets and a cute new duvet!)- it's a lot of their sumemr stuff but a good time to stock up or for those of us in places that still have 3 more months of summer the summer items are a great steal for a mid-summer revamp of your living space.