Set the rip fence on your table saw 2-inches further away from the saw blade than the width you need for your cap. Turn the saw on and cut a strip of 2-inch hardwood to that measurement.
Set the rip fence on your table saw 2-inches further away from the blade than the length that you need for your cap. If the post you have is square, leave the rip fence in place. Cut the strip of wood you just cut again to create the top of your cap. At this point, you have a 1-inch thick square or rectangle plate.
Cut two pieces of 1-inch thick hardwood to a width of 2 inches. Cut both strips of wood to a length that matches the length of the cap. Place the 2-inch face of the boards against the fence on your miter saw and cut the ends to 45-degree angles. Cut two additional pieces of 1-inch thick hardwood to a width of 2-inches. Cut both strips of wood to a length that matches the width needed for the cap. Again, cut the ends of the strips at 45-degree angles.
Place the strips of wood on top of the cap so they rest on their 1-inch wide faces. The strips should form the sides of a box with the 45-degree angles butting up to make 90-degree angles.
Secure the wooden strips to the bottom of the cap with finish nails. Drive the nails though the strips and into the wooden cap with a hammer.
Bevel the top edge of the square or rectangle plate with a router equipped with a bevel routing bit. The routing bit has a roller bearing on the end of it. Place the bearing against the side of the square or rectangle and then run the bit around the perimeter of the cap. This will cut a bevel into the top of the cap.
Place the cap onto the top of the post. If built correctly, the cap should press tight onto the post. Drive finish nails through the side of the strips you used to make the cap. This secures the cap to the post.