For Christmas this year, I planned on making frames simply by cutting a 2x10x12 into pieces approximately 10 inches tall. I paid about $9.00 for the board and got 14 pieces from it with a small one left over.
I painted the board white and sanded the edges.
I used some distress ink, but the color was brown and I wanted a little blackish tint, so I added one drop of black acrylic paint to about 1 tsp of water and lightly added the wash on areas around the edges.
I drilled two holes in the top evenly distributed apart, and ran a piece of fabric strip through the holes tying a knot and cutting the edges. Then I glued a magnetic plastic frame from Walmart that cost just under $1 with super glue and I was done!
The paint I had on hand, but you can buy acrylic paint for just under $1 and it goes a long way.
The frames cost me approximately $1.60 to make because I had the fabric, paint, sandpaper, and super glue. The plastic frame was $0.95 and the board cost me $0.65. That is a savings.
You can also mod podge scrapbook paper onto the frame and sand the edges, add stain or watered down paint, and then glue on your plastic photo frame and tie a ribbon. Next one I make I think I will add a word like "Memories", "Family", or "Faith" with a Sharpie paint pen.