This is something I made two years ago for my daughter's 2nd birthday. And given that tomorrow she turns four, I pinned it up again today and remembered how much I love it.
It's super simple and easy to make. I simply printed out the letters I needed on plain white paper, traced them on the back of assorted scrapbooking paper (I chose all purples) and cut them out. Then I punched 1-2 holes in each letter, tied a loop with lavender ribbon, and strung the letters on a larger ribbon. Poof - instant, inexpensive, custom birthday banner.