I know these sorts of projects have been done to death, yet I can't help but be proud of these little puppies.
There are numerous tutes out there teaching all sorts of complicated bookbinding techniques, but if you're looking for an easy project that you can do in an evening while it snows outside, give these tiny tomes a try.
Little Golden Books work great to start out with, because they're just two pieces of cardboard stapled together, holding the pages in between.
Pry out the staples (carefully) by making little slices in the gold paper and bending the staples with a pair of pliers. Once you've done that, the book will fall apart easily.
Cut several sheets of paper to size, I just used the cardboard book itself as a pattern.
Stack all the pages together, and clamp them with a couple of those butterfly clips you can easily steal from work or 'borrow' from someone's desk.
I used a trim nail punch to hammer three holes through the stacks of paper, and threaded thin ribbon through the holes.
These are so easy, I made them for everyone in my family for Christmas and they loved them!