This is another idea I got from my sister-in-law. I bought the cheap little wooden letters from Roberts (I was lucky enough to get them al in the first try), quickly painted them and then sanded them.
My sister-in-law painted hers with a light color, then a dark color so you would see the light color when you sanded it. I just did it with one coat so I could see the wood.
I love this project. It took me probably 20 min at the most. My sister-in-law actually had them glue onto a board covered with fabric and then put them in picture frames (without the glass of course). It was so cute, but I didn't have the motivation to go that far so I just stuck them on the wall with sticky tack.