Bookmark
This is how we did a similar bookmark when we were kids. We simply folded a piece of construction paper in half lengthwise and cut the slashes at a 45 degree angle every 1/4 inch being careful to keep the slash end about 1/2 inches from the side. We then folded the paper flat and folded down every other V shape, slipping the point under the point below it. I repeated the same process only with fabric to make my blue bookmark.