body p:first-child:first-letter
{
background: #990000;
border: 4px double #ffcc00;
color: #ffffff;
float: left;
font-family: "Times New Roman", Times, serif;
font-size: 3em;
font-weight: bold;
margin: 7px 10px 0px 0px;
padding: 10px;
text-transform: uppercase;
}

http://www.nealgrosskopf.com/tech/thread.asp?pid=41

Learn how to create drop caps using CSS and no extra HTML markup in this short tutorial.

CSS Drop Caps Without Unnecessary HTML Elements or Classes

css, html

CSS