Hi there!
At this time of year, I don't have much time to scrap because I am usually working on Christmas crafts.  This is what I made this weekend.
I saw this project on the 
Lori Whitlock blog and knew I had to make my own. I have had this piece of mdf board in my stash for years.  It's 12x16 inches which was the perfect size for this cut file.
 
I started by painting the background with dollar store white acrylic paint and letting it dry. The cheaper the paint, the easier it is to distress later. 
I cut the 
"Reindeer Training Academy" cutfile from vinyl.  For these types of projects, I choose to save my Silhouette vinyl and use mac tac from a home improvement store. I just change the cut settings on my Silhouette to cut a thinner vinyl, but it works just fine.
Using a makeup sponge,I dabbed the red acrylic paint over the vinyl stencil. I like using a makeup sponge with a stencil as it helps reduce the amount of paint I use and I'm less likely to have bleeding under the stencil.  I drug the makeup sponge along each edge of the board to give it a frame.
Once the paint was completely dry, I removed the vinyl and using a sanding block, I sanded off some of the paint. I moved the sanding block in a vertical motion only to give it a worn look and sanded some areas more than others so it wasn't even. I did extra sanding around the edges so the wood could show which created the distressed red and wood border.
Since the mdf board was only 3/8" thick, I used my Crop A Dile to punch holes in the upper corners, threaded some leather ribbon and viola!  A Christmas wall hanging.
I just love it!  It looks great on my orange living room wall. 
Thanks for looking!
Sylvie