I saw this on NastyGal a long time ago, but it disappeared. It is now BACK IN STOCK! YAY! But if you'd rather not pay $48 ridiculous dollars for something that only costs about 10$ tops to make, get your DIY pants on and GO!
Grab a white tee and put it on. You don't want it too tight or too loose. Grab some sharp scissors and cut tiny tiny little holes all over the tee. The reason I say put it on while doing this is you don't want the hole to end up right over your nipple or something if you're brave enough to wear it without an undershirt.
After you're done cutting the holes, take it off, lie it flat. After this there are a few options of how to do the lettering, I'll give you 2 of my ideas.
1) More expensive route: buy the iron on letters from a store in black and the E & R in white or off white if they have it. Don't get the 3D ones, get the big flat ones. Place them on & Iron away!
2) Less expensive, more time consuming: spray paint. Make a stencil for the HOLEY and SHIRT, cover up the E & R with plastic or something. Spray paint black. Let dry then cover up the other letters besides the E & R and spray paint an off white or w/e color your shirt is. So you can just barely see it.
Courtesy of: NastyGal