I've stayed at Holly's Hostel a couple times on my trips to Chengdu. The rooms are vey clean and affordable. The staff is extremely friendly and helpful. They can give you directions around the city, hook you up with tickets to see culture shows, hiking trips, go to the Panda Bear Rehabilitation Research Base, etc.
Holly's Hostel -- Sam's (of Sam's Hostel) sister's place. Holly's is clean with plenty of rooms (though in Chengdu I would advise booking ahead) and decent food. Holly can also arrange tours/transport to Lhasa and just about anywhere else you want to go in China. The hostel costs between $2-4 USD per night, depending on the relative luxury of your room. Definitely a bargain.
Unique Quality: The food in the hostel restaurant was really good, and it has a rooftop veranda for swapping stories and drinking. Also, there is a TV and DVD player in the main lounge area, and you can rent DVDs and watch them with other travelers. The atmosphere of the hostel is very cozy and it's a great place to talk to other travelers and get trip tips.
Directions: You can take bus number 57 or 27 to get there. It's in the Tibetan Market area of Chengdu.
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Address: No.246 Wuhouci Street, Wuhou District, Chengdu, Sichuan, 610041, China