I am loving this idea.
I am not a huge Martha Stewart fan, but her craft section can often have some neat frugal ideas.

This bookmark is great and simple to make. Makes a great gift.
Here's the link to instructions.

http://www.marthastewart.com/page.jhtml?type=content&id=channel1159&catid=cat268

Here's a link to a bunch of crafts that you may or may not find interesting and fun.

http://www.marthastewart.com/page.jhtml?type=content&id=channel1159&catid=cat268

Thank you for the great site

I love those bookmarks - great ideas for gifts!

I like those:)

how cute !! Thanks for sharing

another ribbon bookmark craft:
http://www.geocities.com/kraftproject/craft-ribbon-n-tassel-bookmark.html

:bump:

Thanks!

Love them! Thanks

I love the ribbon ones :)

Thank you! Those are really elegant AND frugal. The best of both worlds. I bet you could embroider the person's name on there, depending on the type of ribbon. Or add some beads. Lots of options there.