Have an artisan make you a unique antique like mirror

You could attach a screen to the opening (from the back side) then use the screen to hang earrings from - jewelry art. Or, put a piece of cork to pin photos, jewelry, etc. Or, foam board with fabric/ribbon for a pinup board.

Or, put a hook in the center and display your favorite hat. "Hat" art. :)

...what do you already have or want to display?

Tufted fabric could make this a great headboard!

Whaere is this frame hang? hallway? bedroom?

This is in a spare bedroom.

If you flip it upside down, it would be a beautiful tapestry hanger.

What are it's dimensions? :)

It is 40 X 28 and the opening is 26 X 17

Wow! That's a nice size! We're going to have to think of something :)

Would you consider "highlighting" the raised areas with an antique gold or bronze craft paint? This would give the carving a little more depth.

Everyone has suggested interesting uses. It would look great right above your bed, flanked by two (shorter) picture frames or mirrors and could be a headboard or enhance the headboard you have, like Garden Oaks suggested. I like Darz's idea of making it into a padded pin up board. Directions for that are all over the internet. Or do something really unexpected and hang an old cowboy hat, baseball caps, golf caps - whatever you have or collect in the middle. Buy a poster of your favorite rock star from your youth and frame him/her for a funky art piece. Have fun! :)

Have you tried working with Annie Sloan's Chalk paints? They come in beautiful colors and are so easy to work with anyone can do. No sanding or priming required. There are great tutorials on the internet. The inside of your frame can be filled with a cork or masonite and it can become the perfect message board for your kitchen or your child's room. Kudos to you for thinking about upcycling.

I would find a nice table to put under and have the 2 pieces in your foyer. I would insert a mirror and probably paint the frame to work with the table.

I would use it to show case two or three of my favorite plates.

I forgot about Annie Sloan Chaulk paint! It's a great product.

Two ideas: a beautiful landscape painting or carve out a wall niche and frame it with the dresser top. Anything you decide to use it for will be great!

I think it would be perfect for a headboard!

I like essentials inside's suggestion. With the size of the headboard, it would be perfect for a twin bed.

I didn't read through all the comments, so sorry if already mentioned, but I think you should take your favorite photo, in black and white, blow it up and use it as a FRAME!