Ikat bag has instructions for making a guitar out of cardboard, rubber bands and a paper tube.
Good for ages 8 and up.
Get the instructions here:
http://www.ikatbag.com/2012/07/cardboard-guitar.html
Minieco has a box version using rubber bands and split pins. There aren't any instructions though, just visuals. There are some helpful tips in the comments though.
See the images here:
http://www.minieco.co.uk/cardboard-instruments/
Makedo has a more elaborate cardboard guitar and it's shiny.
Get the instructions here:
http://makedo.com.au/inspiration-insight/how-to-make-cardboard-guitar.html
The frakers acres take cereal boxes, popsicle sticks, yarn and wrapping paper tubes for an easier approach
Get the instructions here:
http://thefrakersacres.blogspot.com/2011/03/happy-its-march.html
Zakka life uses a matchbox and popsicle stick for her version.
Get the instructions here:
http://zakkalife.blogspot.com/2011/06/kid-craft-matchbox-guitar.html
Lyndsxo glamour moms uses a small plastic container to make her cardboard version work.
Get the instructions here:
http://lyndsxo-glamourmoms.blogspot.com/2010/10/daily-play-cardboard-guitar.html
Martha Stewart paints hers orange.
Get the instructions here:
http://www.marthastewart.com/265694/making-music?xsc=eml_crd_2011_08_17&om_rid=NbR$fr&om_mid=_BOS651B8WNdJPT