You can see it in action here:
Please, don't send any Bitcoins to the address on the wallet. If you must send them somewhere, how about here: 13AEtsPjyDm8SdhQFcwUMDJZYgR5hteZPS :)
Its possible to etch stainless without anything particularly exotic. (I used a bench-top power supply, but thats about it for even remotely out-of-the-ordinary.)
We will use the laser-printer toner-transefer method to make a mask, then apply it to our target steel, and then etch!
A Note About Safety
This etching process is safer than many others since there are no acids involved. However, there are still some things to consider.
First, the process will split the water into hydrogen and oxygen gases. Hydrogen is flammable and when mixed with oxygen, down right explosive. You don't want to let those gases accumulate. Use plenty of ventilation to prevent the gases from concentrating.
Second, stainless steel is made stainless by adding Chromium to the steel. After etching, there will be contamination in the water from the steel. The only part you have to worry about breathing and environmentally is the hexavalent chrome or (Cr VI). Avoid breathing the fumes from the etching and treat the waste water an an environmental hazard. (It is probable that the concentrations from this project will be too low to officially be considered a hazard, but rather than have it tested, lets just treat it as such.)
Feel free to reuse the solution as much as you can, but when it is time to dispose of the solution you should let it evaporate and then dispose of the remaining solids by tossing them in with some other stainless scrap. Find a local machine shop that works with stainless and toss it in with their stainless scrap.