Measure up one half inch from one edge of the card stock and make a few marks with your ballpoint pen.

Use your ruler to draw a line connecting the dots.  This creates your fold line.

Using that line as your guide you will need to fan fold each piece of paper.  Fold once, flip the paper over and fold again, using the line as your guide.

Once all three pieces have been fan folded fold them each in half at the center.  Create a strong crease so they hold their shape.

Wrap a pipe cleaner around the white paper.  Twist it in the back to secure.

Add the blue and red pieces to the center.  Secure them together by twisting the pipe cleaner around all three.

Glue the edges of the fan folded paper together.  Put a layer of hot glue on one edge and glue it to the next.

Glue all of the edges together to form the rosette.

Twist the ends of your pipe cleaner together to form the hanger for the rosette.

Cut an extra circle to cover the pipe cleaner.  Here I am using silver glitter paper and a circle cutter, but you can also simply cut a circle from another sheet of card stock using scissors.

Cover the pipe cleaner with one circle.

Glue the second circle onto the other side to finish the rosette.