Here's an easy-peasy (as my 6-year-old son would put it) tag idea.
slide mount (although this is totally optional), okay, slide mount template (handmade); patterned paper; cardstock; embellishments; stamp ink; Queen Kat Designs Stamps - I used Candy Cane Greetings Stamp Set and Rolodex Stamp (not available).
I got a paper-wrapped slide mount from a craft store and carefully separated the parts to use as my template. However, this step is entirely optional. If you don't have a decorated slide mount on hand, proceed to step 2.
I traced the backing and the actual slide mount on white cardstock. But if you don't have a slide mount, simply measure a 2" x 2" square and round the corners.
For the piece with the whole in the center, measure and cut a .75" x 1.25" rectangle in another 2" x 2" square with rounded corners.
I also traced the original paper wrapping of the slide mount on patterned paper (photo not shown).
If you don't have a template, use the 2" x 2" square with a hole as a template. Cut enough patterned paper to "giftwrap" your square.
Decorate as desired. Before I attached the front part of my slide mount, I stamped the lines (Rolodex Stamp) and To/From (Candy Cane Greetings Stamp Set) images on the back square.
Tip: The fun part of this is that you can create as many as you want with such an easy template. Plus, it's a breeze to simply punch a hole for your string if you prefer to hang it on a gift. Fun!