This was such a fun project to do! I think I got the idea from one of the recent blog hops I've visited. (The Creative Stampers Spot)
Here are some pictures and a video!
One of the things I didn't mention in the video is how I made the ribbon finish. Instead of it just hanging down I put some glue on the end of the ribbon and then curled it up into a roll. You could do this on the top as well depending how you hang it.