For my "stencil" I cut the "I" & the heart out of cardstock, laid it on the denim and painted with acrylic paint. I didn't do any fancy mixing with fabric medium or any of that (mostly because I'm cheap and this was a gag gift anyway). In my googling of the matter, the only downside to using straight acrylic paint on fabric is that it makes it stiff. Which it did, but not enough for me to do anything about it! For the "Tab" stencil I printed two pictures of the can of soda onto cardstock. From one I cut out where the pink went and painted that on then for the other I cut out where the silver (top & bottom of the can) & wording went. Add a Tab colored ruffle to the bottom and some ribbon to tie it and in the words of my almost 2 year old, DATAA!!! (she says tadaa backwords...it's pretty cute)
Please forgive the unedited, late at night, taken by the husband picture (yes, this was the better of the two).