I typed up a list of steps to use when I "cliched" my first knife. It is a good idea to follow the steps in clich's thread. Based on that thread and others on putting an etch on a blade I came up with the following for the basic ethching:
1. Remove the blade coating:
--Most folks recommend getting Jasco Paint and Epoxy Stripper but an alternate is CitruStrip if you want something a bit less toxic. Follow instructions on the stripper.
--After stripping, you can polish with sandpaper. Most people recommend the automotive body work sandpaper. Start with a low grade (around 180 or so) and use progressively higher grades. Make sure to get the scratches out from the previous grade before moving up to the next grade. Most people tend to go up to around 400, but you can go as high as you want to get the blade as shiny as you can.
--Once the knife is stripped and polished clean it very thoroughly to remove all dust, particles, and chemicals.
2. Tape off blade edge and or sections that you do not want with a patina. You can also put Vaseline where you don’t want the patina/bluing used in the next step.
3. Apply gun blue (Birchwood Casey Super Blue is used by a lot of people) and let dry thoroughly. You can use a brush, cotton balls, cotton swab, or a rag. The bluing pattern will affect the etching pattern.
4. Remove tape and place knife in liquid bleach. Be careful of blade placement. You can put it in edge down (trailing pattern) or place blade on its side (forged pattern). This gives you some control over corrosion/particles floating onto edge. Note: Work in a well ventilated area due to the reaction of the gun blue with the bleach and the toxic gas produced.
5. Let the knife soak for 30 minutes to 2 hours. The longer the knife soaks, the deeper the etching.
6. Remove the knife from the bleach and dry the blade with an old towel or rag.
7. Once the knife is dry, sand it with 100 grit sandpaper and remove rust..
8. Clean the knife with Windex and/or wash the blade thoroughly with soap and water.
9. If you desire a darker patina you can re-apply the gun blue to the knife and let dry.
10. Sand the knife again with 220, 400, etc...grit sandpaper to shine up the un-etched portions of the knife.
11. Re-wash, dry, and sharpen the knife.
12. Apply oil and you are done.
I hope this is helpful...Clich's thread, along with others that have pictures are very informative.