Monogram wreath. What a great idea to just put a hook on the door and hang the wreath that way!
Button Letter Wall Decor. Why not use Sharpie to draw the initial for each child's name, then have them glue items inside for a personalized collage!
Love this for a year round letter to hang on the door of a house! (Twine Wrapped Letter- Would be super cheap- All supplies available at Hobby Lobby for less than 4 dollars.)