It sounds like a neat idea! I'm thinking the tape would eventually wear off if it's scotch tape. If it was double sided sticky tape cut the width of the ribbon, it may stick together longer
I'm starting a beaded curtain out of those paper beads that I've seen craftsters make on here. For weight, you could use heavy beads on the bottom, peach pits (dried out & then drill a hole), fishing weights that you would normally use when fishing to keep the line in the water. Depending on what color your ribbons are, maybe even fishing bobbers would work too. Hope this helps give you some ideas.