I created this bow with 3 stamped labels - You can use card stock or B&T (I found it easier to do the first couple with cardstock).
You want to cut out the outer edge of the label and then also remove the center.
Fold the image in half to make removing the center easier. You can always trim a little more if you find that is necessary, this just speeds things along (yes, I am a bit impatient).
Next you will need to fold the label in half horizontally, then vertically along the label. You can fold some labels to show label design and others to show the opposite side (for B&T) - this is shown in the third image with the scissor cap. The next thing you need to do is to fold each corner the opposite direction of your center folds (so if your vertical/horizontal folds are mountain folds, then fold the corners as valley folds). The corner fold is shown with the sciccors. The final image in this photo shows the completely folded label.
This next image shows putting the ribbon bow together. I put the label Brown side up through the center of the label with Yellow side up. 1/2 of the label is under the yellow and 1/2 is above it.
The next layer is a yellow label which goes through the middle of the first two labels, 1/2 behind and a quarter turn different than the first one (in my case I put the label 1/4 turn to the left under the brown label - I held onto the third label for a reference) and the other 1/2 on top. When you have this layer done, the ribbon bow is complete. I found that going much beyond 3 layers make the bow start to move off center. To get the ribbon effect, make sure that your folds are crisp and crisp up folds as needed in the various levels. I attached the bow by placing small glue dots on the various levels of labels (backside) and then adhered to my card. The bow will tend to stay together but reinforcing with glue dots at points where the labels are coming together isn't a bad idea.
I'm working on the second set of instructions and will post them soon!