I posted about this on the Create A Day blog, too, but here is a sketch and a "stitch sketch" I made based on my sketch.
I have a few doodles that I am going to try this with. I'm going to go get some framing materials this weekend. Hopefully I can use my Dremel to do the myter (sp?) cuts. Or, I will just be lazy and go to IKEA. It could go either way.