Good to know
RAINBOW - there is another one close to the old town (facing the Ledra street entrance go right) - it's much bigger than the one on Makarios Str., they have supplies for almost all crafts
Mavromatis Bookstore - Byzantium Str. (Strovolos) - they have very nice section with supplies for artists, textile paints, canvas, clay etc.
Don't remember the name but there is a great shop on 28th of October (Engomi), next to Papaphilipou Ice Creams - huge wall of all kinds of ribbons/cords/threads + gift boxes, gift wrapping papers, small decorations etc.
If you are looking for fabrics, there are many small shops on a street parallel to Ledra Str., I think it's Phaneromenis Str. (10 different or even more shops with hundreds of different fabrics)
Btw. do you know where I can buy a sewing machine here in Nicosia?