I have the styrofoam design wall. It's wonderful. I do a lot of dressmaking, so I pin other things to it, too - patterns and fabric sketches, for example, and measurements and pictures drawn by my granddaughter. I used a soft cotton fabric, heavier than calico, but woven like a jacquard. I stapled it to the back, like re-covering a kitchen chair seat. DH attached it with those nails that have the washer in front, so it won't come off.
My fabric cover is not quite opaque enough to hide the bright pink of the insulation! I deliberately chose a messy picture of it. :wink: At least the rest of the room is fairly clean.
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Because I sell quilts, I can also use this as a backdrop and position the quilts smoothly for photographing.