I saw the saying on Pinterest in the summer, but didn't know how to put it all together until I went to Michael's and found this house and these hearts:
Jason and I pulled out the two dividers in the bottom portion of the house. I painted the roof black, outside of the house navy blue, and inside tan. Then, I wrote the saying on the roof portion. My kids and I tested the wood hearts with Sharpies, but they bled, so I painted the hearts tan and the left edge in black. I wrote the names of all my parents' (and in-laws') grandchildren in white on the black portion so they'd be consistent.
The children each decorated the remaining part of their heart in some way that reflected their interests, personality, or age (fingerpaint and a stamp pad worked well for the under 2 contingent). I like them to have a hand in producing the gift.
The hearts, unfortunately, don't quite fit in the house without a little overlap, but I think that gives it a little more depth. I considered gluing them to string and hanging them (somehow) in the house and other ideas. My mom is going to glue the hearts in at her own preference, but I like it this way ...
When my parents gathered all of their hearts, the final project looked like this (with the names erased, poorly, by me):