How I made it...
MATERIALS
piece of plywood (free - in the garage)
cork board squares (its the kind you stick on - I recommend using the 3M stick on tabs, I used glue and AFTER I put the material on one slipped down

$5.00 at walmart by the bulletin boards, dry erase boards etc... 4 to a pack)
Batting (I dont know what its called!! LOL NOT a seamstress, but its that white stuff used to make things like cushiony lol ... I am sorry please someone tell me what this is called!! It's in the material section at walmart...they cut it for you - about $2.00)
Piece of material (just measure the board and leave like 2-3 inches of extra material all the way around. About $2.00)
3M sticky tabs (for the cork - $2.00 a pack I think... I used super glue and it didnt work)
flat tacks or a staple gun if you have one (I used tacks - you cant see them because they are on the back and I am not good with staple guns, saws, hammers etc I used ALOT of tacks... but they are cheap I spent about $2 on them and used like 60 lol I hate staple guns)
ribbon (I bought 2 spools, I think they were 5/8" x 18 ft... I used about 1.5 spools - It just depends how big the board is and how many rows you make - but definately do not buy by the yard, just buy the spools - they are only $1.97 each at walmart!!)
2 wooden ladybugs - (i dont know how much they were, but maybe like $0.50 -$1.00 each - I got them in the craft section at Walmart.)
pack of ladybug tacks (again Walmart lol - In the section where they sell staplers, tacks, school and business suplies... about $1-$2 for a pack and I only used about 1/2 the pack)
Picture hanging kit ($0.97 in the hardware area at guess where .... lol yep Walmart lol)
So you can see its super cheap! Like $20... I go to Walmart because its the only store in town lol ... but I am sure you can get it at other stores too! Not sure if they all have the same things or not, but I got everything at Walmart ... so you should be able to find all the stuff there too!
DIRECTIONS
1. My husband cut a piece of plywood (I really am not good with power tools, but if you are you could probably cut it yourself!!)
2. placed the cork on the board to fit - had to cut some pieces... the entire board was not covered, but 90% of it was and I just placed them so only small spaces in areas that didnt matter much would be without.
3. glued the cork down and placed heavy items on it to let it set... dont do that though - buy the 3M sticky tabs, they will work and you dont have to wait for it to dry.
4. place the batting over the entire board over the edges and staple or tack it down good! (on the back)
5. Place the material over the entire board and tack it or staple it down good and tight (on the back)!! Trim off any excess material on the back.
6. make a big X across the middle of the board wih the ribbon- tacking or stapling it down at each corner (on the back) - tight! then take a ladybug tack and place it in the center where the 2 ribbons meet. (make sure you lay the ribbon where you will put it ...to measure it before you cut it and leave an inch or more to tack it down on the back)
7. Then just do the same all over the board ... where ever 2 ribbons cross put a little lady bug tack!
8. super glue the 2 wooden ladybugs on the corners on the board, put something heavy on them to make sure it dries in place. (the ladybugs came prepainted by the way)
9. On the back I used the little "O" rings on each top corner hammer them in lightly and then screw in tightly... twist the picture wire in each o ring and you are DONE!!!
I know it looks like a lot of steps, but it really was easy and fun to make!
Have fun and good luck! (sorry I didnt post it sooner, I didnt see the question until this morning!)