For the good times...
I recently took part in a swap and this is what I made my partner.
It was a global village themed swap and since I'm from the UK I took on the Britain theme to this piece.
Hope you like it.
Next I took the orignal backing of the frame and covered it in fabric. I stuck it down with masking tape to keep it in place. You can probably glue it in place, but you'll need to wait for it to dry before moving onto the next step.
Take the ribbin and wrap it around the fabric covered board with your desired pattern.
Stick the ribbon in place either with glue or masking tape.
Cut a piece of fabric the size of the fabric covered board. This will cover the back so you can't see the masking tape or glue keeping the front in place.
Glue this in place to secure it.