Measure the height and circumference of your lamp. Cut a sheet of cork the same as your measurements with a utility knife. If your cuts are even a little off, your cork won't meet at the edges and your lamp will look sloppy.
Paint one side of the cork sheeting with cork cement and wrap it slowly around the body of your lamp. Push the edges of the cork together and hold them there for about a minute. Wrap the top, bottom and middle of the lamp with painters tape to hold the cork in place and let the cork cement dry overnight.
Measure the diameter of the base of the lamp. Adjust a mathematical compass to the circle's radius. For instance, if your lamp measures 4 inches across -- including the cork thickness -- adjust your compass to 2 inches.
Draw a circle on your cork sheeting and cut it out with a utility knife. Push the tip of the knife into the center of the circle and slit it in a straight line to one of the circle's edges. This creates an opening so you can put the circle on top of the lamp.
Push the tip of the utility knife blade into the center of the cork circle and twist, carving out a circular hole. Carve a 1/2 inch diameter hole through the circle this way.
Gently slip the circle onto the top of the lamp, sliding the slit around the base of the socket assembly. The edges of the slit should meet and fit tightly; if they don't, carve a little more from the center of the circle.
Paint the top of the lamp with cork cement and press the cork circle back into place. Allow the cork to dry overnight.
Hot glue strips of ribbon around the top and bottom edges of the lamp to hide the seams and give the lamp a finished look. Decorate it with novelty stickpins.