I started with a 5x7 from my stash. I left it the wood color. You could paint it any color you choose. Just pop the back off and take the glass out before painting it.
Decide what letter monogram you want (I used chipboard) trace it onto the back of patterned paper, cut it out and ...
I used my computer to print off the word "Christmas" for my frame. You could use a first or last name or any other word. I held the glass from my frame up to the screen to position the word correctly on the paper.
I then tied some ribbons on the side of the frame, put the glass, the Christmas paper and the back into the frame and glued the C onto the top glass.