http://www.marthastewart.com/portal/...l%27s+Catchall
"Catchall How-To
Choose an unfinished frame with a wide flat front (our 14-by-11-inch frame has 2-inch-wide edges). You will not need glass or backing. Paint the frame and some small, medium, and large wooden spools with white acrylic or latex paint; let dry. Glue the spools in place with wood glue. Turn the frame over and, with a staple gun, attach lengths of 1/2- and 3/4-inch-wide grosgrain ribbon to the inner edge of the frame, pulling the ribbons taut. Hang the frame from a nail. For a finished look, attach ends of a 2-inch-wide grosgrain ribbon to the back of the frame, and secure it to the wall above the frame with a decorative nail."