tomontoast

The drop caps plugin is fairly self-explanatory. It adds mark-up to your posts and pages which allows you to create wicked drop caps like those shown on <a href="http://instantsolve.net/blog/" rel="nofollow ugc">my blog</a> or in the screenshots.
New in version 2: You can now add drop caps to comments and excerpts as well as post content.
Updating to 2.1: The plugin now adds a <code>span</code> as opposed to a <code>strong</code> tag. Make sure to change your stylesheet.
The plugin now has loads of settings. You can choose which pages to put drop caps on. You can exclude specific posts and categories and you can also choose wether to use the default styling.
The plugin marks-up the first paragraph starting with a capital letter. It makes the first letter into a drop cap and gives the paragraph a class of “first-child” allowing you to style the first paragraph in a different way.
<h3>Update Log</h3>
<ul>
<li>1.2 – Fixed a bug where drop caps wouldn’t appear after images or in paragraphs with attributes.</li>
<li>2.0 – Added loads of settings such as which pages to display drop caps on.</li>
<li>2.1 – Fixed a bug where drop caps wouldn?t appear after quotes and multiple HTML tags. Changed the markup to use <code>span</code> tags as opposed to <code>strong</code> tags. Posts can be excluded by name as well as ID.</li>
</ul>

Drop Caps

The Drop Caps plugin adds drop caps to your posts, pages and comments. It comes with some cool css styling and lots of options.

Garrett Grimm

Initial Letter is a plugin that adds style options so you can change the size, color, and font of the first letter of each paragraph within a post. Also known as “drop cap”. You can add/remove this functionality on a per post basis the meta box in the post editor.
To do: Add option for custom Google Fonts

Initial Letter

Initial Letter is a plugin that adds style options so you can change the size, color, and font of the first letter of each or all post paragraphs.

Drop Caps vs Initial Letter