the. magic. pouff.
Some things you just don't realize you need until you come across them, like The Magic Pouff by Denis Santachiara. The Pouff is both an ottoman and a bed, depending on what you want it to be. Who knew such things existed?
Okay, it's actually an inflatable bed in an ottoman, complete with a compressor to pump the bed part up. And I really don't need one, but it looks so cute I want to bring it home anyway. The bed part doesn't look terribly comfortable, but that's something I'll let my guests worry about.
I'm not sure if the Pouff is available in the U.S. or not. I've only seen it on some European Web sites, running about 275 euros.