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Yes, there is a way to create a PayPal button and allow the buyer to enter in their own amount.
Here's how to create a Buy Now button: Log in to your PayPal account, Click "Merchant Services" at the top of the page, Click "Buy Now" under Create Buttons, and Choose the button type and enter the payment details. In step one enter 0.00 in the Price box. When the buyer checks out, they will click the Buy Now button on the website, they will then be brought to the shopping cart page to enter the amount, click update and continue to check out.
I hope this helps.