I took a distribution from my traditional IRA.  For tax reasons, now I
wish to roll it back.  I understand that if the distribution was to my
Roth IRA, I can roll it back with no problem.  However, if the
distribution was to me personally, can I still roll it back?  If not,
can I recharacterize the distribution to me as a loan and pay it back
to my traditional IRA with interest?

Daer Lina

If you drew the money from your IRA, you 
have up to 60 days to return the money to 
the account without tax consequences. 
[note: 60 days, not two months.]

You may not borrow money from an IRA. Period. 
So, if the days has passed, there is no 
recharacterization, or replacement. The money
is taxable. 

However, if this is money you deposited earlier
in the same year, as a deposit for that year,
you will simply be able to reduce or eliminate 
the deduction for that same year. 

i.e. you deposited $2,000 in January 2005 for
2005, but drew it out in March.

For more information, please see IRS Publication 590
Individual Retirement Arrangements (IRAs) 
http://www.irs.gov/publications/p590/index.html

When you may withdraw IRA funds tax-free:
http://www.irs.gov/publications/p590/ch01.html#d0e5026

And, of course, the list of prohibited transactions
is topped by borrowing from it:
http://www.irs.gov/publications/p590/ch01.html#d0e7112

This section explains the rules on rollovers and what
the exceptions are to the 60-day rule (scroll down):
http://www.irs.gov/publications/p590/ch01.html#d0e3196

And since you asked about recharacterizations, here's 
the scoop on that area of the law:
http://www.irs.gov/publications/p590/ch01.html#d0e4593

I know, this isn't what you wanted to hear. But it is the
tax law. Sorry. 

Best wishes,

Your TaxMama-ga

P.S. Now, if you really want to know how to tap those
IRA funds tax-free...that's a whole other question.