I was reminded of these ornaments by a post on Etsy's blog (they were something I liked making as a kid!) and I decided to make my own version. To start out I used some kraft paper that I had block printed. I trimmed it down into a 5" square.
Once I had folded it in half, turned it 90 degrees folded it in half again, and then folded it diagonally in both directions, and finally folded in each of the corners much like when making a paper airplane my paper looked like this:
And then I simply folded it up into shape. When nicely creased it seems to do it quite naturally.
I chose not to use any adhesive at all--instead I threaded my needle with baker's twine, stitched through all four points at the top and tied them snugly together, leaving long ends that I later tied together to make the hanger.
and that's it--so easy! I also got my Christmas tree, just a little guy that I cut down from my grandparents' backyard--it definitely wouldn't win any awards for fullness but I think it is a rather delicate and pretty tree! (oh and the price was right since it was free!)