This was a school time project we did to review our ABC's. We worked on a few letters each day. I have some alphabet stamps we used to stamp a letter on each page. Then the kids came up with something that started with that letter. They drew a picture of it and also wrote out the word. (For my 3 year old, I wrote the word for her).
After we finished all of our pages, I punched a whole in them and put a ring around them to make them into little books. Then my kids read them to each other (and have read them several times since, they took great pride in their books that they made!)