Cut one 6 x 6 inches square of wool felt. Mark lines 3/4 inch apart, parallel to the perimeter, using a pen. Mark a line diagonally across the square from corner to corner.
Using a straight edge and knife, cut along the first line from the corner to about 1/4 inch from the diagonal line. Make 2-3 passes with the blade, cutting a little at a time and keeping even pressure on the straight edge so that the felt does not creep while being cut. Repeat until all cuts have been made, keeping the felt intact at each corner on the diagonal line.
Lift the corners of the centre square and hand stitch the ends together with matching thread. Secure and cut the thread, hide the knot between layers.
Turn the piece over and lift the corners of the second square. Overlap the points and stitch together at each point. Continue turning the piece over, overlapping points and stitching until all 4 squares are stitched.
Create a hanging loop at one end with thread and add two felt balls at each end.