I took some cardstock and made flags of various sizes. I also used a brown paper bag for flags, too.
I took some ric rac (it is from Beautiful Additions, a great Etsy shop!) and stitched the paper flags onto it. I didn't worry too much about having 'perfect' stitches.
To attach the strings of flags, I just used a regular desk stapler. The frame is made of pine which is a soft wood. The staples went into it easily.
It was ready to hang on the wall. I added a hanger with some teeth and didn't even use a wall anchor. (It isn't very heavy since there's no glass.)