Many elements of the room would be easy to replicate. Raid your grandma's house for a brightly colored afghan like the one found in the wooden bowl on the floor. Check eBay for vintage telephones, and create a funky and lovely little vignette with accents you already own.
To get the rest of the look, read more. While I appreciate the look of the Danish shag rug shown here, it's just too retro for my tastes. To bring this look into the modern day, I'd forego the retro shag (if you do love this rug, though, you can buy one for a pretty penny on eBay). Instead, I'd lay down this beautiful Peace Industry felt rug ($2200).
Create the woodsy wall by using a circular saw to cut one-inch circles from a felled tree, and use the rest of the logs, after they've dried sufficiently, for firewood placed in a pretty branch basket.
For the rest of the look, check out the widget.