I was inspired by this tutorial and then made it my own. This project was really simple. Start with a square canvas and a piece of scrapbook paper. Cut the paper to the size of the canvas including the sides so you can cover those too. Using Mod Podge, adhere the paper to the front of your canvas and then let it dry. Once the front is dry then flip it and make 45 degree cuts on your paper corners so you can fold them over and Mod Podge them shut like in the picture below.
Next choose another piece of scrapbook paper and cut your initial into it. To do this I printed an N onto regular printer paper, cut it out and then traced it on to the back of my scrapbook paper (just make sure if you're tracing on the back you do it backwards). Once your initial is cut out use Mod Podge to attach the paper to the front of your canvas. Once everything is dry, embellish however you like.
I used stickers that had some dimension because my paper had such a busy pattern but you can use anything you like. In fact, you don't need to embellish at all if you think just the initial is enough. This project was so simple and it would be really easy to change it up for an older child or even for yourself depending on the paper and embellishments you use.
My initial canvas is resting on the baby's windowsill, waiting for his arrival!