Ive got some custom vinyl on my bike. Its not too hard. Im a designer so I just made what I wanted in Illustrator. Then measured where I wanted it on my bike, and sized it appropriately. My friend who works at a sign shop made the vinyl. Mailed it to me and I just cleaned up the bike where it was going to go, and placed it kind of like a sticker, then rubbed it down really well. Its stayed on fine thus far.

Cut vinyl is only one color, so no effects and such. If you want multiple color you basically have to stack vinyl on top of itself. It comes in lots of colors and some crazy glittery styles as well. Overall the stuff is pretty cheap by the yard. It will stick to anything smooth and not oily (windows, cars, tables, walls, electronics, etc…).

If you have any more specific Qs let me know.