Gotta love the warm-fuzzy feeling of productive Saturday mornings doing xmas crafts.
I've already done 8 of this flower and am ready to start new exciting projects.
Inspired by the latest issue of Better Homes and Gardens.

Off to Spotlight to get more material tee hee
=D

Edit to add instructions:

Thanks guys!
I did not have time to make a step-by-step of this so I thought I might as well just write the instructions here:

Curled Flower

Cut 10 paper strips, 15 x 2cm.
Staple together ends of each strip, creating 10 'teardrops'.
With stapled ends in centre, arrange teardrops in a flower shape. Using double-sided tape, secure 5 of the adjoining teardropswhere the loops of teardrops touch.
Use Magic tape to hold ends of teardrops together. Repeat this step for the remaining 5 teardrops.
Using double-sided tape, stick the 2 halves of the flower together, sandwiching a narrow grosgrain ribbon hanging loop between the two.
Cut 2 paper circles, 4cm diameter. Using double-sided tape, centre and stick circles onto both sides of flower.

voila!

ps: for those in Australia (like me), I used Cristina Re's gorgeous papers.