So, I took the concept and used an old binder! I cut out the metal rings from the middle (this part was a bit tricky, I just cut around the two little circles that go all the way through, that way the binder would still be intact. You could also just leave them in if you don't mind them), then covered the whole thing with paper. I mod podged the paper on, used a ribbon so it won't open all the way, and attached another ribbon to hang it from! It was super easy (except removing the metal parts, but that wasn't too bad either, and is totally skip-able), and I love how it turned out!
Another perk of having the wall folder is that it forces me to go through my ads more often. I can't fit an infinite amount of ads in it (unlike the floor - although I guess technically it is limited to the amount of space in my apartment), so every week or so I go through and get rid of all the expired ones! I plan on putting some cute design on the front saying "Ads" or "Advertisements", but that will have to wait until I have time. It's done now, and that's what matters most!