I made this quite a while ago, but just recently got it on the wall for use and thought I'd share it. I got the idea from the Hot Toddy section of an issue of ReadyMade (March/April 04).
I had this scrap of masonite with some sort of laminate or something over it from when my parents redid there kitchen--I guess it was from the cabinets or something. The surface is basically the same as a whiteboard, anyway. So instead of going out and buying something, I just used that and improvised a window in the felt so I'd have an area to write phone messages on. I just got felt from a fabric store and my scrap bin, and leftover ribbon from my wedding cake. It was really simple to make, just some hot gluing. The trick is to remember to make the circles at the ends of the openings, so you can see them, and so there's more give when you put stuff in the pockets.