Warning - This exploit is
GUARANTEED to be patched in an OTA update pushed down from Sprint/LG in the near future. If you enjoy this mod, i highly suggest you do not accept or apply that update.
This does not require root and works on rooted and non-rooted phones alike.
go the market and get the free application "Hotspot Widget" by Harald Muller. Any hotspot widget should work but we'll use Haralds in this example. After it downloads do the following:
1) long press a blank spot on your screen and select add a widget.
2) press Hotspot Widget
5) Now click your new widget
Does the top of your screen look like this?