Gather information from people involved with the show. Actors and actresses should write a short biography, explaining past theatrical experiences. The director should write a biography and a note to the audience, explaining the vision of the play. List the name of each person who helped with the production. In community theater, you can't always pay everyone for their jobs, so it's polite to thank them in the playbill.
Include advertisements for local businesses that contributed to the production or that bought ad space in your playbill. You can sell ad space and price those spaces according to the size of the ad. For example, you could sell a full page ad for $100, half of a page for $50, and so on.
Save an image of an existing playbill to your computer. Use Photoshop, or a similar imaging program, to remove the image, leaving only the top portion that says "Playbill." Insert a picture for your production. This could be artwork created for your show, or a photograph of the cast on stage.
Print copies of your playbill on a standard, color printer. The number of playbills should match the number of seats in your theater, multiplied by the number of performances you schedule. Always print more than you think you need. You don't want to have too few playbills for your audience members.