All you need is a canvas, a set of small cardboard letters (bonus if they are sticky on the back!), and a few shades of your favorite color paint (I got everything I needed at Michaels).
Spell out whatever phrase you want (a quote, name, etc.), lay out a pattern for where you want the letters, stick the letters to the canvas, and paint the whole thing gradually getting darker as you go (think ombre!). The paint helps keep the letters in place, and you can keep touching up the coloring until you're happy with it.
Bam. Done. Easy! Now just hang it somewhere you can show it off.