I bought these thin plywood squares already cut to size and thought they’d work perfectly for coasters. First, I used my cutter to cut a stencil out of vinyl. Once I had weeded out the excess vinyl, I used transfer tape to place my vinyl stencil on top of the wood.
Then, I applied a couple of thin coats of wood glue. After that dried, I removed the vinyl.
Finally, I brushed on some stain and wiped it off very quickly (no time to take a picture). Try to get as much of the stain off as possible. The quicker you can get the stain on and off, the better. The longer it stays on the more chance there is of bleeding. Even going quick, I still had a little bleeding. If you want, you can apply a protective layer of polyacrylic.