Cut sheets of cardstock into 4" x 4" squares. Trace the template onto the paper using a pencil. Use a craft knife to cut out the traced lines. This is where a cutting mat comes in handy.
For the white paper, we used a Martha Stewart All-Over Craft Punch (Caned) that to create the secondary design. We lined up the paper so that each punch would take up a quarter of the paper. The cardstock is a little thick for the punch, so you may have to press hard to make the cut.
The result was a pretty punched pennant with a caned pattern.
Punch holes in the top corners of each square to thread them together. Hang up on your wall, across your mantel or even around your Christmas tree for a pretty, inexpensive decoration.