Step 1: Getting Started
You will need:
Sheet magnets - I only used less than one sheet for all these words
Magazines and catalogues (that you're willing to cut up) - Sure, I could have printed the words, but I wanted the various fonts, colors, sizes, backgrounds, etc.
Scissors - Don't cut yourself.
Glue stick - Don't glue yourself.
A fridge - Don't chill yourself.
Step 2: Cut, Glue, Repeat...
Not much to it, though I did make one discovery. It's much easier to put the glue on the magnet and glue down a whole line of text, then cut them into individual words. I started out gluing individual words, but that way lies madness.
Step 3: Slap Em on a Fridge!
I decided to magnetize a couple of the Instructables stickers I got for having my Flash Drive Mini featured.
The only problem with this way of doing a set of words is that it's hard to find any dirty words (at least with the magazines I have).