Well, I started this card with the intention of making another slight dent into my mountain of patterned paper, and it was hugely successful - I now have two 5 inch squares less than I had before! lol
I started out by scraping layers of red, teal and white paint onto the cardstock, then overstamping the image, which I painted with Distress Stains applied with a water brush. Finally I stamped the faux stitching. The mat was the same cardstock as the main panel, and I darkened it's edges with a dark grey promarker to provide a little contrast.