You will need...
A black sweatshirt
Assorted faux fur in different colours
Printer (unless you're an ace at tracing and copying templates)
Patternmaster or graded setsquare
A4 paper or magazine (hear me out on this one)
An easy and therapeutic case of cut, stick 'n' colour (if you don't mind things getting a little messy!).
About an hour, if that.
Get your fur on!
Print the above template across a sheet of A4, cut the letters out and place each one on the flat 'wrong' side of a differently coloured piece of faux fur.
Pin the letters down and cut the fabric around them.
The next step is to decide where to stick the lettering - and make sure it's straight! I did this by placing a magazine (you can also use an A4 sheet of paper) along the top of the ribbing and directly above the hem. I also used a patternmaster to make up the extra distance because I felt that the lettering didn't sit high enough.
Once you're happy with the placing of the letters, keep something in place to mark the line out and stick them down with craft mount.