I think the whole chalkboard came to about $20 to $30 including the paint and liquid nails that we can still use on other projects. We bought a sheet of hardboard (some people call it masonite) for about $10. Then cut it down to 5'x3'. Then bought regular molding for the sides that was about $15. After cutting the hardboard I painted it with a few coats of chalkboard paint and then my husband miter cut the molding and used liquid nails to attach it the hardboard. Some touch up paint and Wa-La. Fun chalkboard.
Here is a great tutorial on how to cut molding if you want to DIY: Miter Cutting molding
The letters are from Michaels I just painted them teal and painted a few old frames red. I'm not sure if the fabric covered corkboard is staying or going. Still thinking about that one.
The little basket underneath I got from the dollar store and spray painted to match the letters.
It's attached to the wall with a couple of screws and 5 yen pieces instead of washers because I couldn't find any. Improvise! It holds the erasers and chalk.
5 yen is supposed to be good luck so hopefully it will bring lots of luck to the little artists.
The chalkboard is over carpet and doesn't seem to be too messy. I have to vacuum the playroom every day or two anyway and don't really notice extra mess under it.