I made these towels using "bar mop" towels from Target - they are $4 for a set of 4. I recommend washing them - they turn all different kinds of shapes in the dryer!
I sewed a band of fabric with Ric Rac edges to the bottom. I folded the raw edge in at the sides of the towel and top stitched the whole thing. The top loop I made with ribbon and Velcro - that way I can get them on and off the handle of the oven. I sewed an accent square out of a charm square (5") in the corner to hide the ribbon ends. Easy Peasy!!