Our first project we selected was definitely due to ease of creation. I'm not the craftiest mom on the block, so anything involving tape, paper and paint as the only supplies is right up my alley.
Here's how we made a namescape for Ava's room:
Step 1: Get out a large sheet of paper (larger if your child happens to be name Sebastian or something of the like), as well as your choice of paints (we used finger paints with our paint-brushes...we like mixed medium art :P ) and the obvious water and paintbrushes (unless you want to use your fingers - then more power to you!). You'll also need either duct tape, packing tape, or scotch tape, if you want the letters thinner.
Step 2: Using the tape (we used mailing tape - we wanted it very dramatic!), spell out your child's name on the paper. You'll want to do this part yourself unless your child is school-aged and dexterous.
Step 3: Let your child let loose with the paints, covering the entire sheet of paper.
Step 4: Let the paint dry overnight, then remove the tape (this is harder than it sounds, at least if you use mailing/packing tape, but not too bad).