A new approach has been taken for the fabrication of Quantum Dot materials to be used for physics as well as for opto-electronics applications. We used a generation technique of ultrafine aerosol Ag particles which are deposited onto the surface of GalnAs/InP quantum well structures grown by Metal Organic Vapor Phase Epitaxy (MOVPE). The particles, ranging in size between 30 and 40 nm, are subsequently used as an etching mask. The Ag aerosol produced by homogeneous nucleation and can have a mean diameter in the range 2 – 100 nm. After size-selection, monodisperse particles with a very narrow size distribution are deposited onto the semiconductor surface at a density of about 109 cm-2. Low energy CH4/H/Ar Electron Cyclotron Resonance (ECR) plasma etching results in the formation of free-standing InP columns 50 to 80 nm in diameter and 120 to 280 nm in height. Their size and stability were found to be dependent on the etching conditions and the diameter of the particles. Low-temperature cathodoluminescence (CL) was used to evaluate the quantum dot structures fabricated by this technique.