(Another edit... four years later!)
Just wanted to share these enormous gift bows I made out of brown paper grocery bags. One is even bigger than the gift...

--------------------------------------------
(editeddddd cause I made more)

Cell phone photo tutorial...
What you need:

magazine page, brass paper fastener/brad, something sharp, scissors.
1.) Cut mag page into strips

2.) Loop a strip like so:

Then loop the other end like so:

3.) Poke a hole in the middle with the sharp thing and slide it onto the brad.

4.) Make another one and put it on the brad too.

And just keep going.
5.) Once you've got about nine strips looped on there just split the prongs on the brad.

And you're done!

WARNING: May cause serious addiction. Craft at your own risk.
-----old post-----
Yeah, I could recycle magazines by putting them in my recycling bin, but this is way more fun...

(I also reused a pretty shoe box to put the gift in)

And two more...

They're super easy. You just need a magazine, scissors and those little brass paper fastener things (a stapler might work too).
1. Cut some different size strips from the mag.
2. Loop the strips and stick the paper fastener through the middle. (it might be easier to make holes in the strips with something sharp first and then slide them on the fastener. I used a seam ripper). Put the smaller strips on first and then the larger.
3. Pull the prongs apart when you're done and then stick it to your gift with some tape. Fluff it up a bit for flair and voila!
Let me know if you have any questions. Thanks for looking!