We wanted a simple headboard for our son's room. He's away at college, so only uses the room during school breaks, but we still wanted the room to look finished. (We moved into this house after he was in college.)
To match the style of the other furniture in the room, we used a piece of hardboard from Home Depot. The sides are 3 1/2" MDF pieces. The center dividers and the top rail are 2 1/2" pieces of MDF. All were glued then tacked with a nail gun. The nail holes were spackled and sanded and the piece was sprayed with Rust-Oleum semi-gloss black.
The bed is full size, which is 54" wide. The finished headboard is 57" wide by 54" tall. Right now it is resting on the floor. We plan to attach it directly to the wall with this "Picture Hanging System" that we purchased at Lowe's. It'll hold up to 200 pounds, which is more than enough for this headboard.
The entire project cost around $60.
The nightstand is from Ikea. I found it in the "As Is" room for $7.99! A little cleaning and a black sharpie to a nick in it and it looks great!