All you need is a stapler, scissors, ribbon and a festive themed pad of scrapbooking paper (which you can pick up from dollar shops or Big W etc).
Below. Fold opposite corners of the paper together to make a big triangle.
Then fold the corners together again to make a smaller triangle. Press the fold line together well.
Cut across to make two triangles as shown. These will have the paper print on both sides.
Use all different colours and patterns if you feel adventurous. Lay them out flat ready to staple. You will end up with a spare bit of paper that you can make other Christmas crafts with.
Staple the side together to stop them opening.
Now staple them onto ribbon. Make sure you use even spacing, this will make them look nice.
I use three staples along the top.
Here is the finished product.
I have probably made 15 metres of it and wouldn't have even used half the pad of paper.