This is the newest edition to Emma's pink and zebra room! I love love LOVE the way it turned out! I got a plain wooden letter from Hobby Lobby for $1.99. Awesome price. I painted the edges of the letter with my black acrylic paint. Once that was dry, I traced my letter on the back of a piece of zebra scrapbook paper and cut it out. I covered the front of the "E" with Mod Podge and pasted the paper on it. I used sand paper to clean up the edges a little. Then once it was dry, I did a top coat. Add some ribbon to the back, and it's done! Easy peasy!
For more tips on using Mod Podge, see my post here.