If you're looking for an alternative to figurines, our cake topper is our initials formed from wire. I'll have updated photos after next week (eek!) but here's a mock up using floral foam. Wire cost $12 on amazon and I was able to use it for a few other projects like table numbers and gifts/cards/guestbook labels.
The wire is very malleable. I only used pliers to cut the pieces and make the tight bends or corners. You actually don't want to use pliers much because it can leave dents in the wire when you're looking for a smooth and seamless bend.
If you're not the crafty type, there are several options on etsy.