Mix a bucket of drywall joint compound with a few cups water until the joint compound has a soupy consistency. The consistency should resemble the thickness of pancake batter.
Use a 10-inch trowel to spread the material onto the drywall. With a turn of the wrist, angle the blade at about 10 to 15 degrees and skip off from the surface. Perform the motions using random angles and directions.
Let the texture set for 15 to 20 minutes, then revisit the surface to knock off any drooping joint compound.