I made this for Will's kindergarten teacher for a thank you gift on the last day!  I found the idea on Pinterest and it was actually pretty easy when I figured it out.  Here is the link how to http://acreativemomma.blogspot.com/2011/05/crayon-monograms.html

An easy way I found to cut the crayon was to kind of roll the crayon while the knife is on it and then it just snaps clean!