Here's what I did with a C (Helvetica Medium).
--I typed in the C
--Converted the C to text to path so I can manipulate the letter
--Enlarged the C and curved the ends with the move point tool
--Opened the Paz gallery to find some decorative swirls (you can also make your own swirls using the segment from path and arc to path tools)
--I placed the swirl on the right in different positions being sure to overlap onto the C (find some free flourishes online too. There are tons of really nice ones out there)
--I placed the swirl on the left in the middle of the C being sure to overlap
--You can either click on Weld, WYSIWYG, or Subtract/Weld (based on the look you want...test them all to see what you get).
If you think you may want to reuse your font, save it into the Paz gallery. Create a font category to save them into.
Here's a split letter monogram I made:
Here's some letters:
Have fun! :-)