This was created using the Envelope Punch Board. You can make so many projects with this board - much more than just envelopes. Here are the directions I took a picture of that Sondra had for us. I hope you are able to understand and make one for yourself. The tags are made by using the Tag Topper Punch. They would be great to put on gift packages. The holder could also be used for other small goodies.
Stampin' Up DBWS and Blog
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Lynne Peters, Independent Stampin' Up Demonstrator