Cut the two 7/8 inch wide dowel rods in half. These will be the four legs of the stand.

Decide how much of the dowel you want above the round top. Add an inch, or whatever the thickness of your tabletop is to this measurement, and drill a hole in each leg using a 3/8 inch drill bit.

To ensure that the legs are even place one dowel through all four legs. 

Use a square piece of paper to mark the four corners where your leg holes will be drilled.

Use a 7/8 inch drill bit to make a hole about 1/4 inch in or more if desired, at all four corners.

Cut the 3/8 dowel into four 2-3 inch sections.

Thread the dowels into the legs. Add a line of wood glue to the legs, just above the small dowel, and then slide the legs through the tabletop.

Allow the glue to dry overnight and then paint as you wish.