(PS- my camera flash made it look like there are scratches on the letter but that was just the texture.)
You will need:
A cardboard or wood letter (found at most craft stores)
1 sheet of scrapbook paper
Start by painting the sides of the letter and a little on the top so it doesn't show through the paper.
Put one coat of mod podge on the wood and then lay the traced paper letter on that.
Mod podge the top of the scrapbook paper. Once dried, turn it over and use an exacto knife to cut any excess paper off the sides. I sanded the sides of mine a little to make it look aged.
Finally, tie the letter to the wreath using whatever ribbon you can find that matches. In the tutorial, she gets a little more creative with hanging her letter. She also added a really cute little family message but that style looked better with her larger M than it did with my little P.