I am quite bleach obsessed. Step one: dip in bleach. Step two: distress. Step three: place in dryer and TA DA! New shorts!
This is my creation out of an old shirt:
Step one: cut of sleeves, inch off of bottom, and collar. Step two: Shred shirt. Start from the bottom and shred upward, naturally it will decrease and create a triangle look. Choose your design. (In order to shred, cut a slit and pull at thread. It is often easier using your nails. The thread should pull away.)