Prairie points can be made from a single strip of fabric. I would guess that is how the tree is made (rather than from individual prairie points). Here is a link to instructions on making the points from a strip:
http://sewtakeahike.typepad.com/sewt...-tutorial.html
Edit: Or, maybe not. Taking a closer look at the photo, it looks like all the points line up. You would probably need to make individual prairie points and pin them to a styrofoam cone to get that effect. Here is a link to a tutorial on making separate prairie points from a strip of fabric:
http://www.bright-quilting-notions.c...ie-points.html