This is what we used:
We got basic 1x4 wood boards from Home Depot, typically used to build a fence (I would have LOVED to be back in Iowa and get some old rustic farm wood from a barn or house) We used 10 of these for the headboard and stained them with Behr dark walnut stain. We actually screwed each board directly into the wall but you could also use a 2x3 furring strip and attach them to that first and then hang on the wall. We opted for the easy way out.
I saw a headboard on pinterest.com that someone wrote "love" and I fell in love with it, so I took that inspiration. I first wrote out "love" with chalk and then painted over it with a sponge brush in the paint of my choice. I liked the effect the sponge brush gave on the wood so I only did 1 very light coat.
We were going to get a basic metal bed frame, but because my boyfriend is the ultimate handyman and really enjoys building stuff he really wanted to make his own bed frame.
We bought 2 2x10's and we only needed 2 because we put it up against the wall and used the wall for the other 2, some screws and l brackets and we had a bed frame!
We love our new bed and get so many compliments on it every time we have guests over. This bed cost us less then $60 dollars.
Lots of LOVE!