(The left side is the "after" look) I added some self adhesive scrapbook letters. I couldn't find any in black, so I bought some blue ones and spray painted them before taking them off the page. At this point, I could have used ribbon to string all the tags together to make a cute banner, but I had other plans.
I painted the wood black and the trim red. Once dry, I did a second coat of the opposite colors. Then I sanded both pieces to reveal the original paint. I glued the trim molding onto the wood and then used painters tape to make a straight edge for placing the tags. I adhered the tags using spray adhesive. For the final touch I nailed furniture tacks into the tag holes.