Score the seams between the bottom edge of the drip cap and the top edge of the top window casing board where they join together using an utility knife to break the paint seal.
Slide a flat bar underneath one end of the drip cap and pry up on it, working your way across the entire length of the drip cap until you can lift it off from the top edge of the window casing.
Pull out any stray nails from the top edge of the window casing with a nail puller. Brush the top edge of the window casing with a wire brush. Sand the top edge with a fine-grit sanding block until the surface of the casing is smooth.
Place the replacement drip cap on a work surface. Apply an even coat of exterior primer with a paintbrush. Allow the primer to dry for four hours. Brush two even coats of exterior paint over the primer, allowing four hours between coats.
Trim off the tip of the tube of window and door caulk using the built in cutter in the caulk gun. Puncture the seal with the puncture tool on the caulk gun. Insert the tube tip first into the caulk gun.
Apply a bead of caulk along the bottom and back side of the replacement drip cap using a caulk gun. Press the drip cap into place on the top edge of the window casing. Press the back side of the drip cap against the house siding. Apply a bead of caulk along the top, back edge of the drip cap where it joins with the house siding.
Hammer finish nails through top of the drip cap into the top edge of the window casing every 4 to 6 inches. Center a nail set over the head of each nail and tap the top end of it with a hammer to set each nail 1/16-inch below the surface of the drip cap.
Fill each nail hole with a dab of caulk using the caulk gun. Use your fingertip to smooth the caulk with the surface of the drip cap. Touch up the caulk with a dab of exterior paint using a paintbrush.