Pottery barn sells their piece for $69 plus shipping, you can create a look alike for around $45. You may have some of the supplies laying around your house which will help cut down on the cost!
DISCLAIMER: I'm definitely not a carpenter or teacher. So please let me know if my directions are not detailed enough or I missed something. Have fun!
Vinyl lettering: You probably will need two packs to have enough vowels. $7 for each pack at Michaels Craft Store
4" wood boards: If you buy 8 ft boards from Home depot or Lowes, you'll need 2 boards/$7 each
White craft paint or spray paint: ~$2
Black spray paint: ~$2
Wood screws: ~$8
Some kind of wood furring strips or other wood for support and attaching the boards together: ~$3
A saw, ruler, drill!
Total cost: $43
Step 1: Cut 6-7 (depending on how tall you would like for it to be) 4" wood boards 22" wide.
Step 2: Lay the wood boards down horizontally with the edges touching one another. Now measure the height your piece will be. You will want to cut your 2 furring strips or other wood support pieces about 2 inches shorter than the height of the piece.
Step 3: Put your two furring strips down, leaving about 3-4 inches from each side. Then drill your wood screws through the furring strips into the 4" boards, one screw for each board. You will use either 12-14 screws depending on whether or not you're using 6 or 7 boards. (You may need to drill pilot holes to keep the wood from splitting).
Now you should have your piece all put together as one piece. So if it's falling apart, something went wrong!
Step 4: Flip the board over so you're looking at the front. Paint or spray paint the front white.
Step 5: After letting all the paint completely dry. You'll have to measure out where you want the lettering to go. Apply the vinyl lettering. (This takes patience, use a ruler!!)
Step 6: Make sure the vinyl lettering is completely on. Press firmly and go over all the edges. If all of it isn't secure, paint will leak under the letters!
Step 7: Spray paint the front black.
Step 8: Wait til the paint is dry and peel up the vinyl lettering.
Optional step 9: Sand the edges to create a distressed/antique look
And now your masterpiece should be done!