canon ip 4300 printable media printer and practice??

I have just purchased a canon ip 4300 printer and plan to use it to label my family mini dv tapes that are transferred onto the printable media.

However since I have never done this before and realize that the price of printable media is costly I wondered if any member had suggestions how I should approach my first try at putting a photo label on the media??

I am sure that I am not the only member that hates wasting media, especially if it costs a bit more than the regular media used.
I plan on doing this only for dvd's that I will be giving as gifts.

Thankyou.