Couch cushions...need help...

I am trying to fingure out what to do with my couch. This couch used to be my parents. It sat in their livingroom and only got used when they had company. Four or five years ago they gave it to us when they invested in new furniture. The bones of the couch are in great shape. The cushions and the arms of the couch are just not doing well. Every time a child's knee hits the couch first instead of their rear end, the fabric comes apart. I am thinking slip covers are the way to go here, but I have never used them, so I am not sure. In addition, the white does not work with our newly painted wall.



Here is a close up look at the middle cushion.



This is the left side cushion. You can also see the pillows I made over the summer.



I posted this to give you a sense of how the living room is decorated. In this picture the paint is showing up a tad dark. It is really a mustard yellow. Not French's mustard, it is darker. You can barely make out the actual color in the first picture.

So, I am open to suggestions on how to handle this situation. Thanks so much.