Painting on Burlap....Then use a roller brush to paint your letters with acrylic paint. I like Martha Stewart's rolling sponge brush and Wedding Cake craft paint in satin finish. (Yes, I realize there is no paint being used in this picture--I forgot to take a picture when I was making the banner and by this time my paint was all packed!) Carefully peel the freezer paper stencil off the burlap.
diy Design Fanatic: Baskets Made From Cardboard Boxes if you can't find a basket that's just the right size, you might consider making a faux basket from a wine, shoebox or some other cardboard box using 4 ply Jute string