You might think about deniim yardage for the background. (I taught 2nd grade for many years.) I wonder about vinyl holding up. Also, at the top of the pockets sew it so there's a triangle at the very top edge...as just a straight edge will not hold well with all the taking in and out of the folders. (Not clear directions, but don't know how to draw this on my iPad.) There should be numbers on the pockets or names at the top of the folders that the kids can see so they don't get them mixed up. Grommets across the top of the whole thing would be the best. Make it washable. Spray it with Scotch Guard. You might want to check out some educational supply houses to see what they offer and go from there.
Personally, I used my wall space for other things. The kids came in and put their folders in a basket. Worked fine, but each teacher enjoys doing things their own way. Have fun with it and enjoy the process. Share when it's done. Bet it will be cute.