I picked up a picture frame that matched my decor and then removed the back and glass. I glued wood letters (first initials) onto decorative card-stock paper, then placed it in the frame and replaced the back.
Then I took a piece of pallet, cut it down and painted it to match the frame. I drilled the hooks into the board in the desired positions and viola! Sturdy, easy, decorative and best of all it's efficient!