I saw something similar to this at our local Library. They had a big felt board with all different types of fruit and veggies that the kiddo's could play with and rearrange. Here is my holiday version. It cost next to nothing since I had all of the supplies on hand, but if you were to buy felt you can purchase small sheets of felt for just a couple of cents.
I started with this $2.00 frame that I picked up at my favorite thrift store. I had originally wanted to turn this into a chalk board for Emmi, but I have so many other ideas for it. I actually have kept it in front of my fireplace for a couple months. I like the weirdness of it.
I took the actual painting out and covered it with red felt. I didn't staple anything into the painting or the frame so no harm done to anything and it can easily be changed out or returned to the original state.
Next I just started making shapes--excuse the horrible job, but I did this all freehand!
Aside from being a cool thing for kids to play with this is also a way to learn and discuss colors, shapes, holidays and seasons!
Here is also another version for fall...