-clipboard (I bought $2 chipboard ones from Target)
-piece of scrapbook paper
-Mod Podge (of course!)
First, take the time to paint the top part of your clipboard. I suppose you could try to get the paper cut around the actual clip part, but I thought that would be a pain. I decided that it would look more finished if it matched, instead of leaving it plain. There is no real science to this part. Paint the top part beside the clip and a little underneath it. I painted more than I needed to, just to make sure it was all covered.
After the paint has dried, cut your paper to fit your board. I used a ruler to make sure that I had the length right, then I just traced around the board and cut it out.
Cover your board in Mod Podge. Honestly, I am still learning how much is the right amount. My initial inclination was to think that more is better, but I kind of am leaning the opposite way now. I think you should use less than I did probably. The key is to put on a thin coat and very quickly place your paper. If you have a brayer (kind of a handled rolling pin for smoothing paper) it would be great. I don't and it worked fine without it.
After the undercoat dries then coat the top with more Mod Podge to seal it. The longer you can wait for the undercoat to dry, the better. If you get antsy and cover the top too soon it will make your paper bubble.