Buy a mirror. Put letter stickers on it. Paint over the whole thing. Peel off stickers. (use canvas instead of mirror. Paint canvas what color you want your letters to be first, then letter stickers, paint over, peel off)
Hopefully, this will justify my saving (and my mother saving!) paper towel and toilet paper rolls. Tons of ways to use paper rolls, great project tutorials! Not just kids' crafts. Some really great ideas.