It is a magnet board made out of a cookie sheet.
We had an old cookie sheet, so I didn't need to buy one, but I am sure that you could find one at a Goodwill or something like it.
I just spray painted mine, it took a few coats and turned out fairly well. My only problem was that I think that the pan had a little grease on it, and when I painted it it had a few weird spots, so make sure it's clean before you paint it.
I think that you could also put scrapbook paper on it or a pretty fabric, especially on the cookie sheets without the rim going around the edge.
To hang the magnet board I just hung it off its rim from a nail. If you use a flat cookie sheet I think the best thing to do would be to drill a whole in it or attach a ribbon to hang it from.
Enjoy!