I have a lot of blank space on my walls where art should be, which leads me to searching the web to see what others have done. I came across this DIY monogram wall art project and, believe it or not, it was done for less than a dollar!
Amy from Grown from Scratch, decided that she wanted her family monogram above the banquet in her dining room. She simply printed out the letter "S" on plain office paper and placed a piece of scrapbooking paper underneath. Amy didn't mention securing the paper in any way, but I'd definitely either use a bit of glue stick at the edges of the paper or a bit of tape to keep it from slipping as you cut. But that's just me.
By using a frame she already had, Amy saved on what could have been the largest expense for the project.
See the full tutorial here: Grown from Scratch - Monogram Wall Art
(Images: Grown From Scratch)