We ran across this great diy tutorial over at Instructables where user Twotim221 set to work using discarded pallets and a little paracord to create this super cool hanging chair. Although this particular chair was suspended between two trees we can easily see it being anchored to multiple places in a backyard setting.
The process isn't difficult to master, just some strategically placed drill holes and some cord to bind things up properly, the chair provides the ultimate comfort as it conforms to the body of whomever sits down! See the full tutorial for all the details on making one for your own yard!
Not your cup of tea? Check out other pallet projects to see if they're more what you're looking for!