Ok, I guess this is where this goes. If not, mods, please feel free to move it to the proper board. So, I make these letters and I think they're rad and I thought maybe other people would want to make some. It's a pretty darn cheap project and they look really great when they're done. Here's what you need:
Unpainted wooden letters (I got mine from Hobby Lobby and they're the biggest size and $2 per letter)
1 piece of scrapbook paper
per letter (I picked black/pink argyle and black pin stripes. Yeah. That's how I roll.)
Scissors
Mod Podge
2 foam brushes or paint brushes
Coordinating color of acrylic paint
Clear sealer
Mountain Dew (or some other highly caffeinated beverage)

See how big the letters are?

Ok, now that you've got what you need, here's how:
Place your first letter
face down on the
back of the scrapbook paper and trace around. I do it this way because sometimes the patterns make it difficult to see the lines on the front side. Plus, if you screw it up, you can erase without messing up the paper. Repeat for all your letters.

Now, put the paper aside and get your paint and one of your brushes and paint all around the edges of each letter. This step isn't strictly necessary, but I do it because it looks more finished and professional.

While you wait for your paint to dry, cut out all your letters. (You could also just use an exacto knife around the letters instead of tracing and cutting with scissors, but the margin of error is way bigger using that method. [Read: I tried to do it this way and effed it all up]) Now you should have a bunch of papers shaped like your letters. And paint all over your table.

Now, using your other foam brush, coat the entire front of your first letter with mod podge. Position your paper on top, making sure to smooth out air bubbles.

Also, check the sides for drips and wipe them off. If they dry like that, it'll look crappy.

Now that you've got the paper on, go all the way around and use your thumb to press the overhang down. Again, this step isn't strictly necessary, but it makes it look more finished and professional.

Now you have this:

Repeat the last 3 steps for all of your letters.
Once they're all done, coat the entire front of all of the paper-covered letters with mod podge.

I usually let the first coat dry and then do another coat. Sometimes I get crazy and do 3 coats. Just make sure to let it dry completely in between coats.
Once the mod podge is all dry, use your clear sealer and spray those babies down. Make sure you spray lightly or it'll bleed through the paper and mess up all your hard work.
While you're getting antsy and waiting for the sealer to dry, do like I did and paint the back of your hand with mod podge so it'll dry and look like old lady skin. Then peel it off and (accidentally) remove any tiny hairs that may have been on the back of your hand (ouch).

Now that they're all dry, step back and admire the awesomeness!!! I did these for a really good friend of mine. She picked the word to hang in her crafting room because she said it would make her feel "extra bad ass" while she's crafting.

Side view:

See how pretty the painted edges look?
Some others I've done in the past:
My daughter's name:

My son's name:

My nephew's name (I was pregnant when I did these and caught my giant belly in the picture):

If anybody else does some, post your pics!!!
Also, it's hard to tell from the pics, but they're super shiny when you're all finished.