I made this earlier on today, and thought I'd share the idea with you. I haven't taken any close up photos as it's not brilliantly made, I tried to do it too quickly. First of all, I removed the glass from an old picture frame and painted it.
I cut three pieces of thick cardboard from a box, and sandwiched together, using strong glue in between to hold them in place. I cut up another unused cushion cover, and used the fabric to cover the cardboard sandwich. I finished off with some diagonals of ribbon. More for decoration than purpose.
After screwing eye hooks on the top and bottom, I attached it to the inside of my pantry door in the kitchen. I screwed cup hooks along the bottom of the frame for extra hanging space for things like keys or oven gloves.
Obviously this isn't the kind of pinboard that will last forever. The card is pretty good, but if you want something more substantial you will need to buy some cork board and cover that instead. This is perfect for me, as this is where I stash papers and photos that I don't want to lose, but don't move around very often.
I wanted to do it this way so it was light for attaching to the door (too heavy and the door could warp and not shut properly) and once I'd made up my mind to get a new pinboard on the door I wanted to do it NOW!
If you do decide to make a pinboard this way, don't use regular drawing pins. I haven't tried, but I suspect they wouldn't hold in cardboard very well. Pearl headed dressmaker pins work well and look a lot nicer.
This is my third low cost project of the week, this one cost nothing at all to make as I used things from around the home and didn't need to buy anything.