Cork board or foam board, fabric, ribbon, hot glue, decals (such as buttons or clips, etc)
Tightly stretch fabric and hot glue the edges snuggly behind board.
Tack ribbon to corner behind board, stretch snuggly across front and tack onto back.
Repeat with ribbon until you have desired crisscross pattern on the front.
Add decals if desired.
Just for some extra storage and a nice border I added a black ribbon along the outside edge.
I also covered the edge of the material on the back just to give it a nice finished look.
Now it's ready for you to insert photos, cards, or any other momentos.