This project can be made out any wood you can get your hands on, from pallets to old scraps you can find anywhere. You can finish it in your own way to suit your bedroom colours and assemble behind any bed.
Nice accent to it would be some cool night lamps hanging over on each side of the board.
Take a look at Beachbumlivin and his take on it.
You really do not need any fancy tools to do this headboard, and to give it a nice colour- got to B & Q paint department and pick up some paint samples and returns-you will literally pay pennies on the dollar and keep your project on the budget.