I go to lowes and get 5/8 x1.5 inches poly trim item # 70676 83683 then I get that Luann board . Then you can either use poster colored sheets (the .99 cents type ) and use loctite spray adhesive 200 .
I cut the size cut the colored sheet or just as I did with the MPC make it the same size .Use the spray on both sides and wait @30 seconds and press together .... then measure your Luann board with the item glued on ..and miter the trim
I use a little liquid nails on my miter joints and pre-drill and add two finishing nails on each corner
Then lay your finished board and use nails with heads on I use 3/4x16 brass plated pins
this part is optional but I use those small eye screw on each corner to keep it away and able to breath against the wall then I add to more @3.5 inches from top and add a steel wire (the way I hang them with two small molly plugs and screws)
Some times the hardest part is knowing where to hang it and what to make! ...daniel