Set up an acetylene cutting torch, also known as a weld cutter. To do this, plug in the compressor and make sure the acetylene tank is firmly secured to the model you're using. At this time, you must put on all the necessary welder body gear, including a lead apron, lead gloves and a full-head-covering welder's helmet. This is necessary when using welding equipment to avoid serious injury. Wear long sleeves and pants as well.
Grasp the firing wand in your hand, attached to a hose that is secured to the cutting torch compressor. Adjust the flame length on the wand after squeezing the trigger to practice with the flame, pointing it away from you. For an antique iron tub, the flame should be approximately 3 inches long.
Position the tub, upside down, in front of you. Carefully cut through the metal, removing about a quarter of the tub. This removes a whole side of the tub while leaving all four feet attached. It's OK if you make the edges of the cut rough and uneven with the cutting torch as this will be remedied with a sander and glaze. Unplug the torch compressor and set the device aside.
Plug in an air-powered circular sander and install a pad that is of a high coarse grain. For sanding metal objects you must obtain metal sanding pads that resemble round steel wool pieces, but more coarse. Turn over the cut tub so the cut edges are exposed.
Apply the sander to the surfaces of the edges you cut with the acetylene torch. Squeeze the trigger of the sander and move in small, circular motions as you buff the rough edges with the rotating pad. Do this until the entire cut edge forms a smooth-lipped edge. This takes time and practice, so be patient and diligent in removing any jagged pieces of metal that could scrape you.
Apply a generous coat of industrial-strength furniture lacquer glaze to the edges of the tub where you cut and sanded. Let it dry for two hours and apply another coat. Repeat this process until the edges of the tub are soft and smooth to the touch. You may want to coat the entire tub in the glaze since you're doing the edges. Use a wide bristle interior paintbrush to slather on the coating.
Spread the futon mattress in front of you, selecting a mattress that is equivalent in size to a "full" sized bed mattress. Use a hot-glue gun to squeeze a 1-inch-thick line of hot glue across the top vertical half the mattress, starting 5 inches below the top edge. Repeat this step with another thick line of glue along the bottom, 5 inches above the bottom edge. Affix an industrial-strength hook-and-loop strip over each layer of glue, matching the measurement of the glue's length. For instance, if your futon mattress is 70 inches long, you need 70 inches of velcro for each line of glue. Industrial rolls of velcro can be purchased online or in crafting shops.
Add a thick line of hot glue along the top of the inner wall of the tub, about 4 or 5 inches from the top edge. Repeat with another thick line in the center of the floor of the tub. Make these lines match the lines of velcro on the mattress. Add the soft strips of velcro to the glued parts of the tub. These soft strips come with the coarse strips to connect. Let the tub and mattress dry for 15 minutes.
Press the mattress into the tub, lining up the velcro strips. This anchors the futon mattress into the tub to create a cushioned seat and back. Layer a feather bead topper over the futon. This adds extra cushion for a comfortable seat. Cover the topper-covered-futon mattress with a full-sized fitted bed sheet. Tuck the ends of the sheet beneath the futon, being careful not to pull the hook-and-loop fasteners as they keep the cushioning in place. Use any type of fitted sheet that adds to your home decor.
Arrange an assortment of throw pillows on your new bathtub couch.