Ha! Cheap frame from a local Dollar store, metal board from Ace Hardware or even IKEA, spray paint board, and the two plastic soap holders. Cut pieces of adhesive magnetic stripes and stick on back of holder.
Cute way to highlight favorite children's pictures in your home with a large frame gathering them all up with each one's initials. I would spray all the smaller frames the same color, however, or maybe various shades of the same color.