This is only an idea, and not something I KNOW about, but, in the UK at least, furniture has to be covered with fire retardant fabric. So if that applies for wherever you live it should be possible to get something at a soft furnishing suppliers.
I think it is also important that you use fire retardant foam - that stuff can both burn with flames and give off poisonous fumes. If the covering did burn, or was pierced due to heavy use, it could catch fire and ... shudders. Again, in the UK, it is possible to buy foam which is designed for soft furnishing use, which would obviously be suitable.
Whatever solution you go for, I would suggest taking a small sample outdoors, dripping wax, much hotter than you would use on your slave, so you have a margin of error, and seeing what happens. If the sample is still in one piece let the flame touch the sample - remember there is an outside chance you might drop your candle at some time - and picture your slave tied to it. Could you get her off it in time to save her?
Since you are making this from scratch, it is possible to build in a quick release system, just in case something goes wrong, not necessarily fire?
Not knowing anything about your relationship with your slave, but if you (plural) enjoyed such things, you could always ask her to contact your local fire station and ask to speak to the fire safety officer, explaining the requirements.
cariad