Here's how I built my acoustic panels:
For the walls, I went with 2" thickness; for the ceiling, I went with 4" thickness. 2'x4'x2" sheets of 703 Fiberglass (Owens Corning).
For both panel sizes, I nailed together two pieces of wood, same thickness as the fiberglass sheet(s), to create 90 degree angles for all of the corners. Gazebo lattice wood was then stapled to the angles, creating one side of support.
Then I set the fiberglass panel(s) in and stapled lattice wood on top of that, securing the fiberglass in place.
Next up, I wrapped the panels in Guilford of Maine Fabric, using a staplegun to attach the fabric to the back of the lattice wood.
Eye hooks were then screwed into the top corners; L-shaped hangers screwed into the wall, both top and bottom. The bottom ones act as a leveler to make sure it's flush with the wall (and adds a little space behind the panels).
Ceilings required curved hooks to accommodate the eye hooks for hanging.
Obviously a little time goes into planning placement and making sure everything lines up, but the building of these acoustic panels was really easy.
Here are some photos: