It is a very easy process, but here is the tutorial:
Advertisement fridge magnet
Spray adhesive (or you could forgo this and be super careful?)
Take an advertisement thin fridge magnet, (the ones with the cheap paper toppers are infinitely easier to work with versus the more expensive laminated kind), and remove the top layer of paper carefully! It didn't take long but I worked slow as to not to pull or distort the magnet backing. I wet the paper several times to loosen the surface and used a scraper for the tougher bits.
Moving on! With a craft knife, cut out the letter and with a smidge (technical term...!) of temporary adhesive place on the fabric/magnet and trace the letter onto the fabric, remove paper and cut out the letter, also with the craft knife.
To finish, cover the entire thing in Mod Podge, let dry and then stick it on your fridge!
Glorious!!! Now onto the rest of the letters!!