I love Pinterest!!
Here's another one that caught my eye, and the tutorial I used as a guideline. I didn't use paper or punches, but I did use the same measurements.
Here's my ornament
I had this fabulous felt on hand that is stiff (like it's been starched) and it has glitter in it. I made two 4 1/2" pieces instead of one, since the felt is glittered on only one side, and I glued them back-to-back. Then I followed the rest of the instructions to hot glue the strips together at the top and bottom.
To create the loop, I used some felted string and then I added some faux holly berries to finish the ornament.
Here's a close-up photo
I'm all about the sparkles!