Admittedly, it is a little late to start in on the Valentine's Projects.
However, here are a few fun things that I have seen in the blogosphere:
Kate Spade has some fun ecards to send.
Design Work Life designed some free "Palentines" to send to your friends. Download them here.
How About Orange has a list of crafty projects.
Twig & Thistle has a cute brownie bag and apple pie carton you can download and print. (You're on your own with the brownies and apple pies)
Creature Comforts has a downloadable tea bag wrapper project.