Determine the words and theming you would like to use. I would suggest one words to go across and then a couple of cute designs to attach to either side of the word to frame it.

Type the word out and then find or use combining shapes over the font you want to make it one piece.

The Accent images are up to you, I tried a peacock theme for ours based on the wedding color theme but then went with the honeybee theming that the Bridal shower was based around.

Set your words to cut and make sure your accent images are traced and set to cut. Repeat the items as many times as you will need to make. Try to reduce the spacing in between so you do not waste too much material. Unless you are going to use 6mm wood you are going to want to double layer these so that the eye rings don't stick out.

I found that the cursive connection points were thin and fragile, so I made a backing to support the words. Take one of your words and outline slightly larger than the words, take a shape and cut out using the subtract feature a spot for the eye rings to go through. I kind of liked the squared off shape I used but you can make it much smaller. Put it on the top edges.

Paint your backing and pieces as desired. Let them dry and then glue together. Once the glue has set take the eye hooks and screw them into the back of the words (your words may be single or double but take your time and watch for cracking) if there is cracking slowly finish and then use wood glue around the area after. The eye hooks should be behind the words and perpendicular to the basswood. 

Its easier to get the keychain ring on the handles first and then use a jumper to attach the accents and letters. Take your time with this process and get creative with your design.