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This is how I made them:
1) I took lots of pencils
2) We painted them green, red, blue and purple (we couldn't leave out Mace's light saber)
3) Using black and silver vinyl, I decorated the bottoms. You could use paper or electrical tape and duct tape too.
The best part, they can still use them as pencils!
I also made some tags for them too. I just printed off these tags that I found here, laminated them and added a ribbon.
May the force be with you!