I ran into the problem of not being able to find cheap unneeded records that would be to the liking of my friends. The label was always important to me.
I discovered a solution by scanning cds into the computer and cropping the image into a perfect square. Resize the image to exactly 2.5" and print the cd scan onto cardstock. Cut it out and mod podge the cd onto the label. You could actually use any image as long as you cut a circle with the correct diameter.
I don't have a photo of my best ones but heres the Spice World record bowl I made for my roomate.