We ran across this great project from Ashley's Thrifty Living by way of Dollar Store Crafts. Both sites have a wealth of helpful projects for greating fun things on a next to nothing budget. This particular project was made from wooden coffee stir sticks, painted shiny metallic silver, a salad plate and a circular mirror.
The salad plate was used as a template to keep the coffee sticks in the right place while gluing. Although she had many of the materials on hand before starting the project, even if you had to buy all of them outright, this mirror should still come in under the $10 mark, including: paint, mirror, sticks and glue!