Just put two coats of paint on my board and as soon it was dry I sanded the edges. I did the same thing for my tags. I drilled small holes in the tops of my tags for the ribbon to go through.
For the vinyl, I rubbed it on to wood like a rub on sticker! It was super easy, just have to have patience because it can be stubborn at times.
When hammering in the horseshoe nails, I drilled a small hole where I wanted them to go so that they would be even and so the wood wouldn't split.
Wood= $2.00 (got a sweet deal)
Vinyl= $3.00 (another sweet deal)
Paint=$0.55 (per bottle)
Estimated Cost of Project $8.00-10.00!!
If found in a store kits or pre-made they can cost anywhere from $25.00-35.00! Pretty SWEET!! :)