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.
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
Quote by Bob_Sacamano
i kinda wish we all had a penis and vagina instead of buttholes

i mean no offense to buttholes and poop or anything

Rest in Peace, Troy Davis and Trayvon Martin and Jordan Davis and Eric Garner and Mike Brown
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