Use a pencil, paper and ruler to mock up a framing design for your medals. Use the frame to guide you, and pretend as though the paper is the finished mountboard with medals on it. Draw each one in its place. This will act as a template for the real mountboard.

Determine slots on the template where you will cut through the mountboard and thread the ribbons for each medal. Use the ruler to make sure your lines are straight.

Line up the tracing paper with the mountboard. Carefully cut out the slots for the medal ribbons. Clean up any loose fibers as you go.

Mount a piece or two of foam core on the back of the mountboard. Make sure the entire assembly and mat will fit inside the frame you have chosen. Trim the thickness of the foam core as necessary to make everything fit snugly.

Place the mat on top of the mountboard, in the place it will be for framing. Thread the ribbons for the medals through the matboard and secure them. You can use dressmaker pins if you do not want to use adhesive on the ribbons.

Adjust the ribbons and medals as necessary. When everything is aligned the way you want, mount the entire assembly with the glass inside the frame.