Pretty new here too. But I have read on several threads that people often use contact paper, florist foil, and even wrapping paper. I think the wrapping paper would soak up the oil from the cake and frosting, but maybe you could cover it in saran wrap. Just a guess. Welcome to CC and good luck. I'm sure you'll get other answers. 
I made two cakes for my church last night and I can see the grease ahhhhhhh. Oh well Thats what I get. I didn't want to use foil because I thought it would look bad but the grease stains look soooo much better! 
On my last small wedding cake, I used paper I got at Hobby Lobby and covered it with contact paper. It happened to be the same paper that the bride's mother used for her invitations. I also put a piece of parchment paper under the cake because I'm not real sure about the "food-safeness" of contact paper. I thought it turned out really cute.
I cover my boards with wrapping paper, then either saran wrap over that or contact paper. I'll place a Doiley under the cake so the doilyl itself is touching the cake. This really dresses up your cake & sets itself apart from those store-cakes.
The wrapping paper (i.e, b-day wrap, etc.) goes nicely with the theme of the party/cake. Contact paper is easier to use on the board than saran. If you use saran, just keep it super tight.
Don't let your food items touch the wrapping paper.
HTH! 
I've used wrapping paper, scrapbook papers, and fabric ALL covered in clear contact paper ofcourse!
I always forget about the scrapbooking papers! Great! I think I might have to toss in the 'embellshment' on those boards, too...stickers...great!
I always use wrapping paper from our Dollar Store or where ever I can get it cheap.I've never had any trouble with seeing the grease.
Good Luck,
Stacy
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