I started with something close to this...

(the board is 3'x2')
Out of pocket expense for this project= $4.99.
and ended up with this
(Click for larger view)
The top middle I fiddled with for this photo to block out my daughter's name. But the letters are painted in yellow and outlined in the blue. Paints I used for this project were FREE as I got them from my scrapbook stash. They're the Making Memories line of paint. I also had various foam brushes, foam stamps (for the letters and flowers) on hand, too. And a pencil eraser came in handy for the lines of polka dots. When my DD saw this she just LOVED IT. She already has a spot picked out to hang it.
I had thought to paint the outside framing, but decided not to. Maybe one day. Additionally, the frame could be decoupaged
, covered with rocks, rhinestones, fabrics, flowers, toy bugs, nuts & bolts, etc. The possibilities are virtually limitless, just constrained by your budget and choice of adhesive!
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Btw...I understand how things can't be CHRISTmas gifts because *someone* is shopping with you. I need some alone time I guess.