Measure the couch with a measuring tape, measuring from the lowest to the highest point of the sofa, as well as the sofa's width. A good equation to use when determining how much fabric to buy for your slipcover: multiply the height of the sofa by 2 and the width by 4, then add these numbers together. Divide this number by 36 and you will have the number of yards of fabric you need to buy.
Buy TWICE the amount of fabric you determined you would need from the slipcover yardage equation detailed above, especially if you've never made a slipcover before. There will inevitably be some mistakes and you might want to create a matching cushion or two, so you will be happy to have this extra fabric later.
Hang a large piece of fabric over the sofa, tucking in some of the fabric (with about 3 inches to spare) underneath the back of the seat cushions and then allowing the fabric over the top of the couch and cutting the fabric about an inch longer than where it reaches the floor to allow room for a wide hem. Pin the hemline and the under-the-cushion line to indicate where you will need to sew.
Hang two more pieces of fabric, one over each arm of the couch, again tucking the fabric under the cushions with a couple of inches to spare, and then cutting the fabric with an extra inch from where it touches the floor to allow for a hem.
Finally, lay a piece of fabric over the seat of the sofa, allowing extra "scrunch" room under the cushions, as detailed previously, and cutting the fabric 1 inch past where it hits the floor at the front of the couch.
Depending on your sewing skill level, take each of the four cut pieces of fabric and lay them again on the couch, making adjustments or markings with a pencil of where you might like to create a pleat or tuck to create a tighter slipcover fit. If you are a beginning sewer, simply check the cut pieces for any necessary adjustments, but it is probably best to avoid fancier, fitted work and instead create a more flowing slipcover.
Remove your pins and sew your slipcover's 1-inch hems on a sewing machine; then sew your slipcover pieces together, leaving generous seams for scrunching the slipcover between the cushions and back and sides of the couch.