Growth Chart! $35 - fabric growth chart (do one for each kid and give to them when they grow up)
DIY- Industrial Faux looking letters...super easy and affordable. This would be a great centerpiece idea for the holidays to spell out JOY, LOVE, or the first initial of the birthday or guest of honor at a party.
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!