Trying to re-create my photoshop design. (5 teaser images pulling latest 5 stories)

http://i35.photobucket.com/albums/d167/danielbird/ZL_Ver8.png

Hey,
On the frontpage, I would like to have the most 5 recent teaser images AND white Taxonomy section name on top with blue background, and the story title at the bottom, as you can see in my Photoshop design.

I have created the rest of the site, I just need to recreate the story boxes and retrieve the latest 5 stories fetching the image and taxonomy section name, and story title.

The image and title can be taken from the story itself if possible, or if not, be created separately.

Can this be done?

I sincerely appreciate any help, advice, or simply a point in the right direction.

A detailed response would be even more appreciated.

Thank you for your time.

-Daniel.