The wall in my new room was looking bare so I bought a four pack of cork boards. However, they ended up a little to thin and crumbly for me, so i "fixed" them.
The picture is Misha Collins being weird (purple-ified) because apparently I get inspired by strange things.
I plan to use two cork tiles together since they're a little thin for me.
Take your fabric and trace the outline of the cork board on it. Cut around the outline, leaving enough room for the fabric to wrap around the sides of the board and about an inch or two more.
If you're planning to copy an image, print it out to fit your board.
Remove a paper guide piece and start painting in. Try to match the gradations and blend different shades when needed. Paint past your outline to the edge of the cloth to add colour along the sides of the finished piece.
(Note: the dye dries lighter than it currently looks, so keep that in mind while painting)
Once you're done painting you need to set the dye. I heat set mine by sandwiching it between two pieces of plastic wrap while it was still wet, then folded it to fit in a microwave. Place it on top of a layer of paper towels and microwave for two minutes. I then washed it in the sink with cold water until it ran clear and stuck it in the dryer because i'm paranoid about it running, lol.
I felt it needed a bit more *umph* and that the dye had bled a bit onto the white area, so i used a bit of white acrylic over the area. Using tacks on dried acrylic isn't attractive, so if you're planning to use it as a corkboard as well, limit the acrylic to small areas.
I decided that since i wouldn't be poking holes in that area anyway that i would accentuate it a bit more and used some Mod Podge Dimensional Magic on it for a bit of interest. It... leaked out of the white areas and dried darker, so i don't recommend...