It's fun and easy to make these traditional paper ornaments, and there are lots of tutorials out there. I posted a how-to in 2006 and decided to make more for my tree this year. This time I didn't glue these modules into a star (which looks great; see the old post). I like them as simple individual ornaments, too.
To make cutting more uniform, here's the template I drew.
Print out a page and cut along the inner lines with an X-acto knife. (I freehand it.) Then cut out the squares.
Bend the center flaps inward.
Moving outward from the center, bend the next pair of flaps around to meet on the opposite side. Secure them with glue or tape.
Keep alternating the direction of the flaps until each pair is joined.
If you like, glue the points of six ornaments together to make a lacy star.