I don't know if you remember my skeleton tutorial from Halloween, but I decided to use the basic idea and create the same type of craft for Christmas. Here is what I did:
I bought 3 cheap frames from Wal-Mart (they cost $3 each), 2 are 8x10 and one is 8x 12. The frames were black or dark brown so I bought a can of cream spray paint and went to town on them. I didn't sand them or use a primer (they are a cheapy plastic) and a few places it cracked, but it actually made them look cooler.
I also bought a pack of 10 Christmas clothes boxes for $3, using the glass for a template; I traced and cut them out. The ribbon came off a gift someone had given me. So it cost $0. I cut 4 pieces the same length and threaded them through the frames.
Don't forget to use a spacer so there is equal spacing on the ties. This is my camera battery charger (it was closest). Then I tied the ribbon in knots and cut the edges.
Here it is all assembled and hanging on my wall. Total project cost $12 - $15
Another cool thing is the Costco photo store online has a gallery that you can buy prints from. This frame is 16x20 and I think it cost me $2.49 to print this from the gallery. It was ready for pickup the same day I ordered it. I already had this frame and I think it's fun to buy prints that fit frames you already have and switch them out for the holiday.
Here is my holiday inspired wall. I love how it turned out. I didn't get it done in time for Christmas, but it's ready to go for next year.