For this project you'll need the following:
digital photos of letters (see above link)
I had some matte photo paper that we inherited from my husband's family (it is ancient stuff from when ink jet printers first started being sold) that works well for black and white photos, so I went ahead and gray scaled my favorite choices and printed them out. If you wanted to print them in glossy color, it may be a more economical choice to have them sent to Costco or Walgreen's or whatever your favorite photo site is that does 10-15 cent 4 X 6 prints.
After they are printed, cut them out and arrange in your frame. Super simple. I found my frame at Wal-mart for 5 bucks. And since the paper was a hand-me down, I probably ended up spending about a quarter in ink on it. Of course the 5 dollar frame isn't the chic-est, and it had odd-sized openings in the matte, but it ended up working out and looks great above our coat hooks.