...if you catch it with as minimal impact as possible (use your hands/arms as a shock absorber), foam would be minimal.
That would require actual effort to lift your arms. Personally, I like a simpler solution: just move the fridge closer to the chair (or vice versa). Certainly not as "cool" (pun intended), but reduces points of failure from such a contraption (and maybe reduced injury from a misaligned can hitting you in your drunk noggin )