Instead of buying a boring couch caddy, you could make yourself a colourful solution to store your remote controls, beer or newspapers with some bathroom slippers, as illustrated by Instructables user mikesauras. Most of what you'll need for this project is available at IKEA.
You can buy the slippers for $3.99 and a palm leaf place mat for $4.99, and depending on the colour of the slippers you buy, you will need a similar-coloured thick embroidery thread. Sew the slippers to the end of the mat and drape it over the arm of the couch, securing it by tucking into the cushion.
Three bathroom slippers fit on one mat, so you could even make two of these for each arm of the couch and get creative with the colours.
IKEA HACK: Couch Caddy [Instructables]