(Image credit: Apartment Therapy )
Chalkboard paint is easily purchased at any hardware store. But it's only available in black or green. This recipe allows you to create the paint in any color you please:

3 teaspoons acrylic paint (color of choice)
1 1/2 teaspoons glazing medium (water-based)
1/2 teaspoon powder tile grout

Mix all ingredients together, blending very well. Make only as much as you need, as it does not store well...

Chalkboard Paint Links:

>> Look! Chalkboard Paint on a Kitchen Wall
>> Look!: Chalkboard Paint Wall at Market Table
>> Good Question: How to Chalkboard this Wardrobe?

(via CraftAtHome.com) -regina

(Re-Edited from 2006-12-22 - CB)