We have a very cute Eric Carle canvas downstairs, but it was around $35.00.
This was our cheap alternative:
$2.50 canvas on sale at Michaels
$1.00 Mod Podge from Dollar Store
$1.00 ABC Wall Decals from Dollar Store
Once you stick the decals on the canvas, just brush it over gently with Mod Podge and let it dry.
Voila ... A lovely ABC wall canvas for your toddler's room!