Creating a sprite that sits flush on a terrain

My solution, create a cube, scale it, paint a texture of an arrow on it, set the alpha level, and attach the cube to the parent entity.
This is NOT my final solution, but I have more important things to work on my game at the moment. My final solution to this will pretty much be what Ross suggested. When the function is done, I will post it in the code archieves.
I'm actually progressing pretty fast, so I will hopefully be able to implement it soon.

Cheers