I am so excited about this! Mostly because of the amazing fabric. But also because I made it! This is how I made mine:
Acquire a piece of plywood the size you'd like your holder to be. This can be the hardest part, as most plywood comes in 8'x4' slabs. That's a lot of plywood.
Cut an appropriate length of quilt batting, roughly the size of your plywood, but with a little overhang. Using a staple gun, staple the overhang to the back of your board.
In a similar fashion, cover the board with the fabric and staple to the back. You want the fabric to be tight and smooth, but not so tight it has no give.
Decide where you want your ribbons to go, and staple them to the back. (Well... of course.)
Attach two small eye-hooks to either side of the back of the board and run a wire between them. Wrap the ends of the wire around itself to fasten. (I found my hooks and wires in a kit at Lowe's.)
Step 6: (Optional)
My photo holder has a decorative bow to give the appearance of the holder hanging from a ribbon. It's not. I just made a nice bow, reinforced it with hot glue, stapled it to the the board, and places a tiny nail under it.
I made all the barrette, and you can find a tutorial here on my blog. (October archives, I believe.) I did not, however, make the picture of the butterfly woman. I wish...
(Edit: I changed the decorative ribbon at the top)