I found a great website that gives you simple how to's for really fun projects. Cut Out and Keep - I really liked the roll-up pencil holder.
I followed the directions on my first try, but the pencil slots turned out to be bumpy and uneven. I decided to make another and just eyeball it instead of measuring and pinning. It turned out much better that way. I didn't have any velcro dots, so I used cute buttons and elastic instead to secure it.