Here's the wreath the I made for the gray and yellow Little Man baby shower. I got a few wreath hangers after Christmas for .20 each. They're great to have around for everyday, holidays, and parties. Its so much fun to be greeted with the theme when you first walk up to the house. This wreath is made of straw, which turned out to be about 1/2 the price of buying a foam wreath base. Plus straw is cute and crafty when showing underneath... white foam? not so much. I wrapped the wreath with navy yarn, and attached every few inches in the back with hot glue. When I cut just the collar and button area from a gray shirt, I left about 1 inch fabric on either side of the buttons, folded it under the buttons and hot glued it down. Otherwise I would have ended up with jagged scissor lines/ fraying showing. The bow tie is made of yellow felt and hot glued onto the shirt. Pretty simple.
Here's where I got the idea: