I made these this afternoon for my niece. I don't have a color printer, so they are hand colored, laminated with clear strapping tape($1.00 a roll at Dollar General or Family Dollar), and hand cut thin magnet strips were adhered to the back. The self stick thin magnet sheets were under $2.00 in the hobby section of Walmart.
here and here.
See more over at this week's Make-It-From-Scratch Carnival.