This is an old Martha Stewart project, but it's an easy, yet lovely one. Martha's instructions say to use real velvet made of silk or a silk-rayon blend, but let's be honest: it's expensive and hard to find. Most craft stores carry nylon velvet (or maybe that's "velvet"), which is affordable and easy to find. Just make sure that the back of it looks like ribbon and not plastic-y.
Here are the tools you'll need for this project:
I used alphabet stamps to make ribbons with the initials of friends. You can use whatever rubber stamps you want, as long as they fit the ribbon and will make a clearly-stamped image.
My recommendation is to cut some little test strips to try things out. Because I was working with nylon ribbon, I started out with the nylon setting on my iron. I didn't know if the ribbon would melt or not, so I started low and worked my way up. I eventually wound up using the cotton setting on my iron. Be sure to leave the steam OFF. The hotter iron created a sharper image. Play around with the time. The original instructions say to hold the iron on the stamp for approximately 30 seconds. I found that I needed a full minute.
Once you've figured out the right temperature setting and time for stamping, go ahead and cut the length of ribbon that you want for your bookmark. I used a hardcover book to gauge the length I wanted. I didn't measure, just freehanded it all. Once you have your ribbon cut, choose your stamp, place the ribbon on the stamp where you want it, then press with the tip of the iron (where there aren't any steam holes).
Lift the iron after the proper amount of time, and examine your stamped image.
If you're happy with it, then cut the edges in whatever decorative manner you want, then you're done! Easy peasy.
I used up my entire roll of ribbon making 11 bookmarks. I bought the ribbon on clearance for only $1.70, so each bookmark came to approximately 15 cents. Super cheap, yet pretty.
I enjoyed this project so much that I went out and bought more ribbon. I've only had a chance to play around a bit with some more detailed stamps with bible verses on them, but they turned out nicely. Because the stamps are bigger, the tip of the iron doesn't work for this. Instead, I placed the very center of the iron (again where there are no steam holes) squarely on the stamp and pressed. I intend to make more bookmarks with these, as they'll be great as bible markers.