I built a little 555-based adjustable blinker board to control the blinking rate of the billboards around my layout.
This version uses a CMOS 555 and a triac to turn the billboards on and off. Not the simplest design, but the only DC power needed is for the 555 and the triac gate. So I could use a small 12V regulator for the DC supply and pass the AC directly to the billboard with the triac.
Though if I had to do it again I might try a 8-pin ATTiny 85 microcontroller instead of the 555. That would let me ditch the pot and 555 resistors and capacitors, and just program the desired blinking rate into the ATTiny.