I saw this in a classroom and really liked the set up. She had a parent volunteer make it for her after explaining what she needed.
The volunteer had taken a cut down sheet of poster board and laminated it. She used double sided tape and plastic sheet protectors.
The orange one was for one subject area and the purple is for another that she teaches.
She simply slides in the standards, objective, and essential question in the plastic sheet protectors.
Those are mostly on display for the folks coming in to observe. She does a more "child friendly" version of these on her flipcharts at the beginning of her lessons.