I have been looking at a blank wall for a long time now with the intention of doing this and finally got it done. I had the frames on hand and spray painted them off white, got a cheapo curtain rod from family dollar and ribbon from Wal Mart for cheap so it was a really inexpensive way to fill up the wall.
(I attached the ribbon to the frames with staples)
I am busy packing away Christmas but will be back soon with lots of fun projects.