New article in the wiki on using CSS to implement drop caps:
Drop Caps are pretty much what the name implies: the first letter of a paragraph is enlarged and dropped to the left of the first paragraph on the page. This is seen in books, newspapers, and magazines all over. It is a classic design trick that can be successfully brought to a web page to give it a bit of elegance.
via TamWiki Main/Drop Caps With CSS complete with an example.