I started out with this frame that I got at Goodwill for $2 bucks,took the glass, mat and cardboard out and covered the cardboard with some quilt batting. I wanted it to be a little cushy rather than than just straight fabric on cardboard.
Then I covered the quilt batted cardboard with some fabric. Next came the ribbon. I taped it in place on the front so I could flip it over to the back to finish gluing easier.
This took about 15 minutes.