I was the den leader for my son's Webelos den. There were 2 dens with Webelos IIs that just earned their Arrow of Light and crossed over to become a Boy Scouts. We wanted to put together a nice award to celebrate their achievement, but we didn't have a lot of money. What we designed was relatively simple and relatively cheap. We spent approx $15 per scout to create the below.
We ordered arrows for each scout. The arrows had the flights attached, but no tip. We also ordered arrow head flints to go with the arrow and sinew for . The images I have here are from the vendor that I bought them from (http://www.3riversarchery.com/Index.asp)