Inexpensive Decor Help Needed!?

I have a horrible livingroom. It has dusty blue carpet. One wall is white and the opposing wall is this awful light gry/wht panneling. I can't paint or put up wallpaper or anything perm. I have a VERY fixed income so I need some creative ideas, color schemes, cheap ways to make it look homey. Also, some furniture ideas. I can't afford to go out and buy a couch or anything....and I don't want to just throw bean bags down....unless somehow I could do it without it looking like a college dorm. Please help!