Cut a section of roofing felt to cover the bottom and sides of the soffit with scissors. Apply construction adhesive to the wood with a 4-inch paintbrush and smooth the felt into place.
Cut a section of metal netting to cover the soffit, using metal shears. Nail the netting to the bottom and sides of the soffit with 2-inch nails and a claw hammer. The netting should fit tightly against the surfaces and corners of the soffit.
Apply a 1/4-inch coat of mortar over the metal netting with a notched trowel, working the mortar into the netting. Allow the mortar to dry for 48 hours before applying stucco.
Spread stucco over the mortar with a smooth trowel, working in half-circles to achieve varied depths and patterns on the outer surface of the stucco. Allow the stucco to dry for at least one week. Paint the soffit as desired with stucco paint.