I found some shrink plastic and thought, "Hmm.. wouldn't it be cool to make earrings.. something.. unique.. special.. AQUA TEEN!". It's really easy and you can do almost anything you want.. just make sure you don't get caught selling copyrighted stuff.. that's not cool.
***update: I just made the coolest necklace!***
First, get the pictures you want to turn into charms. Go into a photo editing program, such as Photoshop, and lighten the picture until it has a "washed out" look. Once you put the picture in the oven the original color comes back.
Open up a program such as MS Word and drag your pictures onto the page. I use MS Word because you can easily adjust the size of the picture and put multiple pictures on the page. Keep in mind that the picture will shrink to be 3 times smaller that the image you print. Size accordingly.
Print your image. If your printer software allows, change the ink amount to light and/or choose to print on a transparency. Be careful when touching the printed page, the ink will come off and/or smear.
Cut out your image. If you don't have a drill, I would advise punching a hole at this stage.
Heat the oven to 275 F. Get a brown paper bag and lay it on top of a cookie sheet. Place your pictures a few inches apart and put them in the oven. It should take between 3 and 5 minutes (it always took mine 2-3). Watch carefully as they curl up.. if they stick to themselves, carefully reach in and pull it apart. Once they have laid flat give them another 30 seconds and then pull them out.
Once they're cool take them outside or to a well ventilated area and spray them with either Krylon Crystal Clear paint or a similar sealer. DO NOT GET THE CHARMS WET BEFORE THIS STEP.
Once the charms are dry, you can the drill a hole if you didn't punch one and turn it into whatever you like.