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If you're going to hack together some mudflaps, why not just get a set of universal ones from fleet farm for $7? Those can't look or function any worse than something made from a garbage can.
THIS is where I found the How-to for the flaps I made, although I modified the template a bit so the top of the flap wasn't quite so wide, because I was afraid it would gather a ton of snow in there if it created too much of a pocket within the wheel well. I never thought to use a flexible cutting board, but Jess has a few (red,orange,yellow) that are thin, but very sturdy and flexible. Might be a great way to go if you can find them in black or another complimentary color. Personally I'd love to have flaps on all 4 wheels, but I read that the rears involve rivets and I didn't want to deal with buying a special tool just to get another pair of flaps on the back.