I've blogged about a free way to make your own font before, but the website used is no longer free (starts at $9.95) so It's time to find another.
Here are a couple of Free Font Design websites:
http://fontstruct.fontshop.com/ - This site is great for the artist/designer. You sign up for a free account and go to work painstakingly constructing each letter using a grid as your guide. I tried it and decided I did not have the time. It took me five minutes to make the letter A... and it wasn't even fancy. But, like I said, this is great for the creative type who has the time. Font design software can be pricey, so this is an excellent alternative. You can also download the fonts that others have designed for free as well. That's a plus for font lovers.
http://www.fontcapture.com/ - This is the font making website for the average person. Like yourfonts.com, it may not be free forever, but while it is under beta testing, it's free. It's pretty much the same idea as yourfonts.com. You print off a template and carefully fill it in with your handwriting and then scan it, upload it, and wait a few seconds for your font to be generated. Then you download it. Simple.