This is just a yard of fabric ($3) stretched over a wooden frame that I (well, hubby) nailed together. Here are the basic instructions:
1. Decide on a size.
2. Go to Home Depot or Lowes to buy the wood. I got white MDF-type stuff because it was very cheap and the boards were straight. The cheapest pine wood was very crooked and wouldn't have worked at all. I think I spent $3.50.
3. Have them cut it for you at the store. It's free.
4. Bring it home and nail or glue the boards together into a rectangle. I would recommend using some kind of 90 degree angle clamp to get things together straight.
5. Wait until the glue is completely dry.
6. Iron fabric. Lay it flat on the ground and center the wooden frame on top.
7. Pull the fabric around tightly and staple into place with your staple gun. Fold the corners like you would wrap a present.
8. Hang it up and rejoice that you've added cheap chic art to the wall!