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If you want to keep the box private and discreet, then you probably don't want to do much with the outside unless you plan to hide it somewhere very safe. On the other hand, you might want to personalize your memory box so that it very clearly belongs to you. Think about the purpose of this box, and think about the sensitivity of the memories that you'll be putting into it.  If you are making a memory box for someone else, then you'll want to decorate it with their needs in mind. Think about whether this person would want a colorful, heavily decorated memory box or a plain, discreet box. Consider that people might be less likely to snoop into the box if it looks boring and ordinary. On the other hand, personalized decoration can be a signal to stay away. People might open an ordinary-looking box thinking that something else is inside it. Tape or glue pictures or photographs that mean a lot to you. Perhaps you have a treasured note from a friend or relative. Perhaps there is a sticker, or a concert ticket, or a postcard that you want to see every time you open the box. If you use tape, then you can change out these "featured memories" for other meaningful items as you live your life and make new memories. Consider painting the surface: in solid colors, or with a more detailed picture. You can make the design simple, or you can make it a colorful swirl of personality. Get creative! This box is yours to design.  Use glitter and rhinestones to add sparkle and flair to the outside of the box. Cover the box in chalkboard paint so that you can write on it with chalk. Glue ceramic tiles and/or mirror shards to the surface to make a mosaic. Try gluing or sewing fabric to the surface of the box. If you're into furry things, attach fake fur to the outside. Use a floral print, or flannel, or denim – anything that says something about your personality! You can cut swaths of fabric from old clothes, curtains, blankets, and other textiles. Try writing your name or the "theme" of the memories directly onto the box in paint, pen, or marker. You can also cut out letters (from paper, cardboard, wood) and glue them on. Consider printing the words onto a sticker using a printer or a label-maker. If you want to make it clear that the box is private, make a tag that says "Property of [your name]. Do not open!" Make a memory box for a specific trip or time. For instance, you might make a memory box to preserve all of your photos, letters, and items from summer camp, or from the past year at school, or from a memorable trip that you took.

Summary:
Decide whether to decorate the box. Stick something inside the lid. Personalize the outside of the box. Label the box.