Have a lumberyard cut a 1-inch-thick piece of Homasote to fit the frame. Cut a piece of cotton velvet 2 inches larger all around.
Center the Homasote over the velvet, plush side out. Wrap one side of the velvet over the Homasote; secure with a staple gun, 1 inch from the edge. Repeat for remaining sides, and insert into frame.
Lay out bracelets and necklaces on the velvet; one by one, push hooks into position. Homasote is soft, so earrings can be pushed directly into the velvet.