Or the in between... with Fedit you can design and print graphic and/or text labels. It's the DIY approach if your not into markers or ready to invest in something more heavy duty. My first set was off a PowerPoint template someone posted here on the forum so same concept and just print on magnet paper or tape them to the board.
Very nice utility ... is there a way to save the label information so it could be called up again in a new Fedit session for edits? I haven't checked but perhaps its stored with the dump file?