#1
How would you suggest going about doing so? We want to spend as little money as possible as long as it looks professional. We're willing to work on it ourselves.
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#2
It depends on how good you want it to look. You can spray-paint your band name on a sheet, but it won't look as good. If you want to make it your self, I'd buy or make letter stencils and paint with those on a sheet. It will look alot more professional that way. Make sure the letters are big enough to be seen from the audience.

I'd reccomend using poster board for the stencils
*-)
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i kinda wish we all had a penis and vagina instead of buttholes

i mean no offense to buttholes and poop or anything

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#3
Banners dont cost too much we saved the money from a single gig and got a fair sized one (big enough for medium sized venues ala a parking lot) we paid about $160