So today I made this... it's super easy and uses up paper scraps of which I have many.
I got a cheap plastic frame from a $2 shop (it cost more than $2, but on a side note, those shops are seriously awesome) Then I cut some craft paper to fit inside, traced letters onto different patterns of paper, cut them out, stuck them down and closed the frame.
The letters I traced were die cuts (di-cuts?)... (whatever)... from Basic Grey that I had from my days working at the Scrapbook Burrow. This is the first time I've used them since then. I imagine that it would be a simple thing to use any kind of font you wanted (thanks The Internet) it would just take a little more prep. That way you could change the size up too.
I didn't have the time, or patience. I did this while Gabe was sleeping.