I recently got some chopped steak at a great deal and decided to make some gravy to put on it.
For this you will need:
1 tablespoon butter
1 tablespoon flour
1 cup milk
In a shallow saucepan, over medium heat, melt the butter.
When the butter is melted and begins to bubble, add the flour and stir with a wooden spoon, or heat resistant rubber scraper. This is called a roux. Stir it until thoroughly mixed and let it bubble for about a minute. That will cook out the flour flavor.
Then, as you keep stirring, pour a steady stream of the milk in. Keep stirring until the gravy thickens. If at any point it starts boiling, turn the heat lower. This gravy cooks up fairly quickly. Season with salt and pepper to taste.