Homasote is awesome for so many reasons — it's green, it's inexpensive, it's sold in large sheets and can be easily trimmed to fit any space, it can be painted or covered with fabric, and, as I've recently discovered, it has lasting power.
I bought a 4x8 foot sheet of homasote four years ago, painted it yellow and stood it up in my studio seen below.

Since the edges were a bit crumbly and it started warping, I re-sized it, screwed it flat into the wall and and trimmed it with wood for my new office.
The yellow paint had dings from former pin holes and I was tired of the color yellow, so I primed everything and painted it white using Benjamin Moore Cotton Balls.
Here is the finished product before I added my personal items.
I wanted this lovely, reinvented homasote board to show samples of my photography and general pretty things I have collected, so I didn't want to stick pin holes through anything. Instead I mounted everything using Simply Tacky.
Having one wall as a dedicated inspiration board makes really makes the entire room! And I still have a squeak of space to add a few more pretty things.

(Images: Tanya Lacourse)


Ercol Bar Stool
Homosote is wonderful stuff, but I have had a ton of trouble trying to find any shelter store that stocks it. The clerks have no idea what you are talking about when you ask for it. I have used it for decades for bulletin boards and sound-deadening. What is a good source?
Whoa, how have I never heard of this? Just checked the "where to buy" section at the homasote website and found a store close to me. This may change my life.
Reindeer -- I asked my husband and father in law to please make a bulletin board for me out of this. I am 99% sure they picked it up at our local Lowe's. My father in law just calls it "sound deadening board" and he is definitely not someone who is up to date on all the latest building materials. Hope that helps a little...
I once saw a great treatment of this in an architecture firm; they had sanded the surface. It looked almost like their walls were lined with suede, at least, the parts not covered with trace.