This is really easy to make.
What you need:
Pieces of wood, any size you want.
Paper to print letters on
Cut pieces of wood to any size you like. Paint any colour you want. Print letters from your computer in any font you like (I used different fonts in my arrangements, gives it some interest).
Glue the letters onto the wood with the Podge and let dry. You can add another coat of Podge glue. This will help seal it.
Done. Add some hooks on the back and presto, ready to hang.