DLTK's Crafts for Kids
Turn your rectangle into a square: Fold your paper all the way across to make a triangle with a bit hanging over. Cut off the bit that's hanging over
Fold your square in half (to make a rectangle)
Then in half again to make a square. Now fold in half one last time (corner to corner this time) to make a triangle.
Draw a curved line and cut off the top of the triangle.
Draw a symmetrical design (same on both sides). Don't draw any cuts all the way through or you'll end up with confetti instead of a star.
And cut out along the lines you drew.
Unfold and admire your beautiful creation.
You can make it out of construction paper instead of plain white paper for a bit of variety.