The portrait is 5x7 and should be cut from 1/4" Baltic Birch plywood. There are some intricate cuts in the portrait. If you are comfortable with a spiral cut blade use one. If like me you don't like spiral blades then use a #2.
The frame can be cut from any contrasting hardwood you have handy. If you don't have the tools to cut a 1/4" dado for the portrait to sit in then use 1/4" material for the frame and simply glue the frame over the portrait.
If you don't have a way to cut miters in the frame you could glue up a panel and apply the frame patterns on the panel and cut it as one piece. There is always a way to get around a lack of tools. Just figure out a way to do with what you have.
Another option if you don't like the frame pattern or just don't want to cut it out then just buy a frame that holds 5x7 art work and you are good to go.
As you can tell from the simulated picture of the pattern, I have not cut this project yet. I'll probably test it out this weekend. If you wany to give it a try before I test it please send me an email and let me know if all went well.