When I started to design my clothing for my business I knew I needed product labels that spun off my current logo design. At the time - I had no clue there was actually fabric you could run through your printer to create them yourself.
Once again - I turned to Etsy because it seems you can find ANYTHING on there.... if you want... chances are someone has made it.
Here is a pic of the handmade product labels I had created by Mommie Made It on Etsy. I got 50 labels for approximately $20. I supplied my logo - and she whipped up a design. Super easy process and excellent quality!