Yes there are a whole lot of other options.
You can just follow the same method, but use it to cover the cakeboards or plywood circle on its own without the foam. Several layers will give you a similar effect. Or you can use quilting or craft batting and pad the top surface extending to the back and you will get a softer edge, I do this too. Or you can use a styrofoam wreath ring form, these are usually about 1 1/2 to 2 inches deep with a hole in the centre, just make sure the cake will sit on a board on top to the ring, this will be very secure. The rings come in various sizes. Or you can purchase styrofoam insulation sheets from a Home Depot type store and cut it with an electric knife or coping saw or serrated edged knife. The insulation is about 2 inches thick and usually sold in sheets of 4x8 foot. You can use a dense foam cushion form but you need to make sure it is really a firm one.
You can really go with just the ruffle glue-gunned to your board or base and then just cover the board that the cake will sit on, you don't have to make the circle or square for the inside to attach the ruffle to, so that saves a bit of time.
Heehee, you can even cheat and purchase lace trims that are already gathered, they sell them in fairly wide widths and they can simply be glue gunned onto the board.
A zillion ways to do this!
Hope that helps.
Hugs Squirrelly Cakes
P.S. I usually bevel the edges of the styrofoam dummies or insulation at the edges like you would normally to cover with fondant, although I didn't in the tutorial.