The next mission

A couple of weeks ago I saw this thing on the Anthropologie website:

I very much like this. I'd like to have it on my wall and hang all the nice delicate jewellery and scarves I don't have from it, and admire it. Twice. Daily.
But I do not like that it's about 80/90 quid, possibly more. So I've invested in some modelling clay and such items, as well as some lovely vintage type papers... so wish me luck, if it goes well I'll be taking you on an arts and crafts adventure-safari.

I hope I'm not approaching this completely wrong... I've never done actual sculpture before, but I am the queen of decoupage.
These are the items and papers I've gone for (I'm sticking with monochrome so that they go with everything but got excited by the nicer papers):