I didn't need to buy anything for it. Just used what I had on hand. The problem with many projects is the shopping. It takes up too much time. It's nice when you are able to use what you have already. I cut the letters (very carefully) out of craft felt and applied them with Fabritac (I love that stuff!).
As for the inspiration, I was recently
P.S. Jennifer has a number of great tutorials. Her frayed rosettes are on my to-do list. You can download the rosettes tutorial, here. The potential for an Anthro necklace knockoff should be obvious!
Have a lovely day and be sure to check out all the projects at Made by You Monday
and Blue Cricket's Show and Tell Wednesday