Simple Printing Arrows
Pyth, 23 bytes
May or may not be valid, based on the answer to this comment. Regardless, I found this neat, and, if it is invalid, the other Pyth answers are also invalid. ;) Well, it's valid, because I apparently missed the blatantly obvious. :/
EDIT: I WON!!!! YESSS!!!! First time ever! :D
j+_J_Wqz\r.e+*dkb*\*QtJ

Live demo.