When I was designing my sewing space, I knew I wanted some project boards. My main problem was the expense and limited size of regular bulletin boards. I came across an article on Homasote Bulletin Boards and found my solution.
Homasote is about 1" thick and is made from recycled paper that's pressed into big sheets. I went to my local lumber yard (an old-fashioned lumber yard - my local big-box didn't have it). I don't remember how much it cost, but it was fairly inexpensive - like maybe $15 for a 4' x 8' panel. I had them cut it into two panels...then we tried to fit it into my Corolla...and well, the nice man cut those sheets into four final panels that were 2' x 4'. And I wouldn't recommend that you cut this at home. When they cut it at the lumber yard, the lines are straight and the dust stays there. I've paid as little as $2 per cut and in some instances it's free.
Here is a great tutorial on making bulletin boards from Homasote. Have fun with this! They are lightweight and easy to work with.