I put this wreath together for less than five dollars (and half of that was for button covers).
I got this wreath form at the dollar store. I found this ribbon in the clearance section at Hobby Lobby for less than two dollars (and I only used half), and then I bought a few scraps of felt and burlap.
I glued one end of the ribbon to the wreath and then wrapped it around the wreath/glued again when the two ribbons met. I just made some simple felt and burlap flowers using some of these techniques. I also bought these buttons for half off at Hobby Lobby and used some scrap fabrics for the center.