I made this tray a couple years ago for Christmas. I copied it from my Papercrafts magazine.
I bought a plain wood tray and painted it red. I printed all the words from my computer. It took some time, but I formatted the word 'santa' to curve around a circle before I printed it.
The red and green emblems are from coordinating rub-ons.
Each of the circles were inked around the edges. I also used a little background stamping with black that I first stamped off (to mute the color). It's very subtle. I faux stitched the edges with a black pen.
I also actually stitched with white thread on my sewing machine. I used a straight stitch along the cardstock that bordered the ribbon down the center. I used a zig-zag stitch around some of the other circles.
I assembled the entire piece before gluing it to the inside of the tray. We've used this every Christmas since I made it. The boys love it! And I love the way it looks decorating my home.