I think the ribbon would look very cute. However, I'm thinking that narrow bias strips of hot pink fabric would be easier to sew. The ribbon won't have any "give" while you are working with it, and ribbon ends typically fray a lot. Might be difficult to poke a needle through too.
I would get a narrow Clover bias tape maker thingie, starch the hot pink fabric before cutting strips, run them through the tape maker, and then cut pieces to size to hand sew over the fraying edges. Just think it would be easier to work with than ribbon.