I've seen this idea bouncing around the internet for a bit like here and some other site I can't seem to find again, but I figured I'd try it myself to see if it really was as ridiculously easy as it looks.
Well it is, it's insanely easy to do. No skill required. OK, the vague skill of pointing a spraypaint can in the right direction is needed, but that's about it.
Step 1: What You Need
Newspaper (not shown/invisible)
Step 2: Wrap and Paint
Now... paint! Be in a well-ventilated area and wear a respirator and apply at least 2 to 3 light coats of spraypaint, letting the paint dry out between coats. 15 minutes is usually plenty of time.
Step 3: Enjoy!
For a cleaner and more colorful look for the names, I used Chalk Ink markers.
Now write some names down and drink up!