Papercraft! To those uninitiated, papercraft is a wildly popular art form that sees people with varying degrees of skill and free time creating their favorite iconic characters from paper in 3D!
On your right you can see an example done by artist Jack Hankins, who pulled off a damn fine looking Krueger-esque creation. Hankins has a lot more on his site Horrorwood, and the best part is you can download the templates for many of them so most of the design work is already done for you!
Check out the Horrorwood site to see them all, and get creating. Think of how impressed your friends/co-workers/school chums will be when they see your new talent!