I got this idea from a blog I follow entitled A Beautiful Mess. She has amazing ideas and this was one of them. I'm sure it's been on Pinterest at some point as well.
So here goes.....
I found the painted canvas at Goodwill for $5 and bought the can of white spray paint and letters at Michael's.
I cut the letters out and placed them on the canvas.
I realized my canvas had more white then I wanted so I added more paint in places where the white would have shown through. Then I stuck the stickers on the canvas.
Spray the entire canvas white.
Let the spray paint dry then peel the stickers off.
Vwa-lah! You have a up-cycled canvas!