I made these to fit in my embroidered Scrabble-like board.
Some way to cut paper
Step 1: Cut Out
Cut 100 tiles in the size you need. I used a Cameo paper cutter and 0.375" square tiles.
Step 2: Draw Lettering
The Wikipedia page can give you a good idea of how many of each letter to use and the point values. http://en.wikipedia.org/wiki/Scrabble_letter_distributions
Step 3: Yay!
Now you have tiny scrabble-like letters!