Here are step by step instructions for how I made my own knife throwing target. Total cost is about $30 in materials from Home Depot. The project takes about 4 hours.
2"x4"x12' pine (2)
2"x6"x10' pine (1)
box of 3" drywall screws
saw (miter is best)
1/8" wood bit
phillips driver bit
T square (optional)
Begin by cutting the wood with the miter saw.
Cut the 2x6 into four 2'6" pieces. Cut one 2x4 into two 6' pieces. Cut the other 2x4 into one 6' piece and two 3' pieces.
Line up three of the 2'6" 2x6's (the fourth is a spare for when the center of your target wears out). Align the 3' 2x4's at either end of the 2x6's. Mark the 2x4's at 1'6", and mark the center of the middle 2x6; line up the marks.
On the 3' 2x4's, mark the points where the screws will go. These marks should be centered on the 2x4's at 11", 14", 16.5", 19.5", 22", and 25".
You can match up the 2x4's and draw the marks on the second 2x4 using the square.
After marking the 2x4's, drill a 1/8" hole at each mark; going all the way through the first 2x4 and only most of the way through the second 2x4. Keep the wood pressed tightly together (possibly by kneeling on it) and drive a 3" drywall screw through each hole to fasten the wood together.
Line up the 6' 2x4's on either side - these will be the front legs. Mark points for the screws to go about 1" in from either side, or about 1.25" in from either corner (measuring diagonally).
Drill the holes and drive the screws into the legs as done previously.
Place the hinge at the top center of the target with the flat side facing the ground. Mark the holes of the hinge on the wood, then drill the holes and drive the screws as before. Line up the third 6' 2x6 under the other side of the hinge so that it is straight (parallel with the other legs). Mark the holes of the hinge, then drill the holes and drive the screws.
When the third leg is folded, it should be on the same plane as the other two legs.
Use two pens, para cord (string) and a ruler to draw the stencil for the target face on a flattened paper bag. Tie the string in a 6" loop (when taut) to make the 12" outer circle.
Place one pen at the center of the paper, pull the loop taut with the other pen, and make a complete circle.
Re-tie the string into loops measuring 2" and 4" to make the inner rings. Draw half-inch "connectors" between the outer two circles so that the inner ring stays in place.
Remove the outer ring and center/bulls-eye with scissors. You can use duct/rigger's tape to reinforce the edges.
Center the stencil on your target. Fasten it in place with tape at the top and bottom.
Apply the spraypaint in several quick light coats to prevent drips. Spray directly through the stencil - do not angle the spraypaint, otherwise the edges of the stenciled image will become uneven and fuzzy.
Remove the stencil and allow the paint to dry.
You now have a target suitable for throwing knives, shuriken, and tomahawks. Anytime a board of the target face wears out and needs to be replaced, simply remove it, cut another 2'6" section from a 2x6, attach the new piece, and spraypaint that section of the stencil in place. This target folds and stores flat against any wall.
I hope this was helpful! If you make one - let me know how it goes for you!