Candy melts are easy to find. WalMart even has a limited supply in their craft section. They are simply melted (on the stovetop or microwave) and they are ready to use. Food coloring and/or flavoring (they taste like chocolate on their own) can be added to them.** Pour the melted melts into a disposable decorating bag fitted with a plain tip...I used a #2 tip.
{**update: you'll need to use special "candy making" colors and flavors. Do not use the ones intended for cookie and cake decorating.**}}
I needed "g's" for some baby shower cookies I am making for this weekend...more on those later. I printed out G's and traced the letters on wax paper, just like using royal icing. While they were still wet, I sprinkled white non-pareils on top. Once a tray was filled, I popped in the fridge for a few minutes. Once set, the letters can be removed from the paper and stored in a container at room temperature.
Here's the big difference between candy melts and royal icing monograms, the candy melts peeled off the wax paper like a dream! No breakage, whatsoever! 
The only drawback I see is that the "white" candy melts are not white, but more of a white chocolate color...creamy. This might pose a problem trying to match a monogram color to a royal icing color on the cookie.I just couldn't bear to throw out all of the extra melted goodness :) last night, so I made a little something for my son's breakfast this morning.
