We used a wool-blend felt in a heathered blue/gray. Jason cut out some leather pieces to use for folders/holders and I stitched the whole thing together with red embroidery floss. Jason tacked the two pieces of felt together with quilt basting spray to make sure nothing moved and to give it a little more stiffness.
I love it!
(Sorry the color isn't really accurate in these pictures....it's hard with cloudy and snowy days to get good pictures inside.)