I needed 40 ornaments for a “HOPE” themed holiday party. My partner had a budget of $200 (which was spent on food and drinks). So I needed something inexpensive.
I had some of the 1/16 wood that @evansd2 had shared a link to and some extra chipboard. All I bought was some buffalo plaid paper. I spray mounted the paper to the chipboard and cut them out as backers. Then whitewashed the plywood (that stuff bows like crazy) and cut the fronts. Cleaned them up and spray glued them to the backers.