I just saw the Mandela Day exhibit at Grand Central Terminal's Vanderbilt Hall. The displays use several words that describe his life to make up a larger image of a word. It's a moving example of Mandela's life and also a great visual that got me thinking of design.
Color combined with fonts, characters, words, and symbols can be a creative and personal way to make your space special. I once created an abstract work on canvas using brilliant oranges and reds and on the top third of the canvas, I quoted a favorite poem that inspired the piece.
This can be a great solo project for some introspection or it can become a family project with words inspired by every member's words (even the cat-- "meow"). It's also a great way to encourage your kids to learn the alphabet and paint their own stencils on a designated wall in their own rooms. Also, if you've been searching for the right way to introduce some more color into your space, this is a fantastic way to do it in a unique way. Think about each word and what color it inspires. In fact, to get started, visit this site for a paint from Benjamin Moore called Ben. Ben is all about self expression and color and on the site, you can play with your own ideas of how colors and words relate to one another.
You can always try your hand at font stencils like these. They're free and printable right at home. If you're looking for something of a larger scale or very specific in font, etc. What Is Blik has prose decals you can customize, too.
If you choose to make it a family event, consider displaying the words you come up with in a room where you all gather like a fireplace wall in a great room or on a wall in the breakfast room. My words right now would be every color of the rainbow and include "adventure, petite, giggle, phew, explore, burp, discover, wow, and yummy" (obviously inspired by my little one!). What colors and words describe you and your home?