Ann Sacks has some of the most beautiful tile out there in my opinion... and much of it can serve as a fantastic inspiration for out of the box thinking of using placemats & paint for a cheaper alternative. This particular one has got to be one of my absolute favorites!
via annsacks.com 

For well over a year (maybe two!), I've been eyeing bamboo tile placemats readily available in large numbers at discount stores like Ross, T.J. Maxx, Homegoods, Marshalls, etc. and my mind just goes crazy with ideas! After Googling "bamboo tile placemats" it would appear that I am not the only one who sees huge potential for these things other than their intended use. The difference appears to be that I don't really want to disassemble them like others do. I like the fact that they are already in great shapes and patterns. My ideas are to use them like they are... just not necessarily on a table. And I've not just been eyeing bamboo tile mats, either. A great example is the one below that references the gorgeous Ann Sacks tile above.
The same dahlia shape as the Ann Sacks tile that can be used as a stencil, mould, or literal tile!via Crate & Barrel

One of my favorites from my personal collection, except mine are a light natural bamboo color.via West Elm

What I want to try is to use thin-set to literally tile with these and (depending on the tile pattern) insert some tile mosaic pieces (or anything!) for a pop of color or contrast...