I make my boards out of birch plywood from The Art Store (Dick Blick). One easy way is to use the right thickness for the front part of the board, say 3mm or whatever for some of my cameras, then cut a smaller piece of the same and glue it to the first, to create the light lock part. That works well for standard 4x4" boards. For my 5x7 and 8x10, though the same approach would work, I go for doing it the easy way by using only one piece of thicker birch plywood as needed for the particular camera and backing it with adhesive felt strips to create a light trap. I like this better and it's a lot easier. It may seem crude, but it works great. In either case, I black the resulting boards with india ink, then sometimes finish with shellac.
If you wanted to be fancy, you could use thicker plywood and machine the light locks. I have the tools and skills, but not the time for that. In either case, I prefer birch plywood because it's dimensionally stable, very easy to get and to work, and strong. Birch plywood is special stuff--not like from the lumber yard--made of thinner plies and harder wood.