Before digital type and desktop publishing took over the world in the late 1980s, there was metal type and phototype. But if you were on a tight budget, you could set type yourself using various "dry transfer" products, Letraset being the most famous. But Letraset wasn't the only one.
I used Formatt sheets a lot in the late 70s and early 80s. I've still got a few catalogs (No. 7 from 1981, No. 8 from 1986, and pages from what I believe is No. 6 from 1976) and a few sheets of type.
Unlike Letraset and other "rub down" type products, Formatt was printed on a thin, translucent acetate sheet with low-tack adhesive backing on a paper carrier sheet. To use it, you cut out the letters with a razor blade or X-acto knife and positioned them on a suitable surface and then burnished it down. I usually used illustration board and then made a photostat for paste up, but you could put it right on the mechanical if you wanted.
The sheets had guides below each character to aid in spacing and alignment. Although I always spaced it by eye, the guides were essential to keep the characters aligned to each other. I would draw a line for positioning the guidelines using a non-repro pen or pencil before setting the characters down and trim away the guidelines after.
Formatt was not as high in quality as Letraset, but it was cheaper and offered typefaces—especially older metal typefaces—not available from any similar product. But they also carried more recent faces, such as those from ITC. They carried about 250 different typefaces in the catalogs I have. I only bought Formatt type sheets in order to get certain typefaces that weren't available elsewhere (other than from typesetting houses, which were not in my budget at the time).
In addition to type sheets, they also produced a whole range of pattern sheets, rule and border sheets and tape, color sheets, decorative material, etc. A lot of the graphic material seems to have come from old metal foundry sources. Besides the type sheets, I used their border sheets and tapes a lot, too.
I also made my own "Formatt" sheets sometimes back in the early 80s. I had access to a process camera, which could make high-quality photographic copies of black and white originals, colloquially known as "photostats" or "stats." Normally you would use white RC (resin-coated) photographic paper with it, but it was possible to get clear acetate photostat material that had a peel-off adhesive backing. Using this, I made copies of pages from old metal type specimens, allowing me to set display type using otherwise unavailable typefaces.