These embellishments have become very very popular with crafters.
Letters come in a variety of styles and sizes. Cover them with papers or cardstock to match your theme or why not buy ready covered letters to suit a perfect theme. Distress them with sandpaper and inks!
You could also try using sugar coating to cover them for a really glittery look! Why not try adding some jewels to them for a different sparkle-y studded look? The possibilities are endless!