This image, for instance, helps explain how the liturgical year cycles around in a circle. I like it because it has more divisions than the simple version. This makes for an easy printable template or coloring page. (If you know where this image may have come from, please let me know so I can give proper credit).
Now, to explain how I made my unfinished version. I can't claim any genius in creating it, since I copied the template provided in Moira Farrell's Home Catechesis Manual (6-9). If you're into geometry, then creating one on your own should be fairly simple. Essentially you mark the circle with 52 evenly spaced (6.9 degrees), equal radii (52 weeks in a year). 26 (on the left hand side) are the bulk of Ordinary Time (green). Then start from the top center and move clockwise. Advent is 4 weeks: 2 purple, 1 pink for Gaudete Sunday, and 1 more purple. Next is 2 weeks (white) for the Christmas season. Then 7 more weeks of Ordinary Time (green again). Following that is 6 weeks of Lent. Right now all of mine is marked in purple. However, we do have Laetare Sunday, the 4th Sunday in Lent, which could be marked in pink. Then we have Holy Week, which is the week before Easter and could be marked in red. After that we have the Easter Season, which comprises the rest of the right half of the calendar before OT starts again: 7 weeks in white. You could mark Pentecost Sunday in red between the end of the Easter Season and the start of OT.
I mounted my appropriately-sized colored cardstock pie pieces to mat board to make it sturdy. Each section was then labeled with the correct label: Advent, Christmas Season, Ordinary Time, Lent, Easter Season, and Ordinary Time. Around the inner circle, I marked a larger circle, then marked off the weekly divisions for each Sunday of the year. The manual mentioned above came with all sorts of feast days and Sundays to copy for labels, so all I had to do was print, cut, and paste.
When you label all the Sundays of the year, be sure you have a Catholic calendar handy. Remember that some of those Sundays have special names, like Corpus Christi, Epiphany, Nativity of John the Baptist, Our Lord Christ the King, etc. You could also create moveable labels for the feasts or memorials of saints who have special meaning to your family (like your patron saints).
In the center is where some image or symbol of Christ should be placed. You may also consider fashioning some sort of arrow to attach to the calendar in the center so you can keep track of what week it is. Naturally, this would be attached before gluing down the image/symbol of Christ. :-)
By the way, Catholic Heritage Curricula's book A Year With God, has a similar project to help kick off the liturgical year (the liturgical year wall project) which can get as intricate as you desire (they use holy cards and photos of family members to personalize their calendar). A few years ago, they had photos online of this project and many others in their section on "Walls That Teach" (the idea was to use the walls of your home to impart visual lessons). I think most of those ideas have now been incorporated into the book.
Anyway, this can be a time consuming project, especially if you don't have everything already typed up for you in a nice template. So, if you're first starting out, you might try one of those simpler versions like I did, then work your way up to this one. :-) I started mine before Thanksgiving, and it still isn't done. Of course, it hasn't been my top prioity either...