This one could be accomplished with a stencil. It would be quite a bit more time consuming and I'm not sure I have the patience for it! lol.
I don't think this would be too difficult or expensive. You could use a drop cloth painted in a coat of white house paint and then nailed on to even a large piece of plywood which could be mounted on the wall. Do you love typography as decor?? I have in just about every room in one way or another.