Cut 3 in. (7.5 cm) diameter circles from both cardboard and paper. Glue paper circle to one side of cardboard circle. Allow to dry. With hole punch, punch a hole in cardboard about 1/4 in. (6 mm) inside outer edge.
Apply a small amount of glue to opposite side of cardboard . Beginning at center of circle, glue yarn in desired colors in a spiral to cover cardboard. Continue to apply glue and yarn to cover edges of circle, then to make a border on remaining side of circle, leaving center of paper-covered cardboard uncovered for name tag.
Allow to dry.
Cut 3 strands of yarn, in colors as desired, each 30 in. (76 cm) long. Knot strands tog at one end and braid. Knot remaining end. Fold braid in half. Draw fold through punched hole and yarn strands covering it, forming a loop. Pull ends of braid through this loop. Pull to tighten.