I made this awesome girl’s hair clip and headband holder for my niece out of a $3 frame I bought at Goodwill. Total cost: $10!
I started by painting it with spray paint. I chose a fun lavender color. Then I drilled holes in the bottom one inch apart and screwed in the hooks. These are for the headbands. I marked the back every 3 inches, cut the ribbon to fit (making sure it was pulled taut) and used a staple gun to secure it. I love how it turned out!
The total cost was around $10. I had the spray paint and hooks in my craft stash, but I estimated the cost based on the amount I used:
Spray Paint: $3
If you want to make something similar, here are some resources. These are affiliate links, and I earn a percentage when you purchase through these.