I know you guys have seen these things around. They are so fun to make and are excellent gifts for college dormers or anyone with a wall and pictures. Whenever I saw one at target I would want it, but didn't have the money or it wouldn't match my room or something like that. All you need is a piece of plywood or particle board (plywood is loads lighter) and enough batting and fabric to cover it as well as ribbons. Also, some thumbtacks and something to cover the thumbtacks like buttons or little charms or beads. You will also need hooks and wire if you are planning to hang it. Oh and my favorite part of all is being able to use a staple gun and hot glue!! I will make a tutorial if you guys so desire.
Here are a few that I made for roommates, cousins, etc.