I love Pinterest - it's a great source of ideas. I don't want it to simply be aspirational, so I try to actually complete projects from things I've pinned.
Here's a slight variation on an idea a friend found on Pinterest. Instead of shades of green, we used blues. We also added a charm to the ribbon and the star in the upper right.
We found all the supplies at Michael's - the craft wood was $1.99 for two pieces. The paint was craft acrylic, and we just eyeballed them to choose the colors. We used wood glue to hold everything together.
I cut out the letters with my Cricut; you can make decent stencils with contact paper. Just attach the white side up. The only tricky part is when you have letters with interior pieces, like the "b," "e," and "o." We added those pieces in the middle of the letters before painting.
I think this would be a nice wedding gift, using the date on the bottom three boards.