I've done wooden ones.
Well.. *A* wooden one. I just covered it with fabric, since I didn't have paint at the time, and put the ribbon on the bottom for the bows. And I made a ribbon "hanger" if that makes any sense... you know, where you glue one side of the ribbon on one edge, and at the other edge, glue the other side. (On the back.)
It's not the BEST in the world, but it serves it's purpose. Oh, and I also criss crossed ribbon over the fabric/wood part to put clippies.