Hey SandraJ,
Another rendition of this sigle letter W E L C O M E could be to have a frame of wood on a stake with smaller letters that are suspended in the frame close enough to read but not to hit each other that would wave (you know) in the breeze, much like a windchime might.
I think I will try this one to start! And for those who have big decks and wrap-around stoeps or verandahs or gardens, who says you only have to have one welcome sign anyway!
Cheers til the next time!