First cut out 3 equal sized long strips of coloured paper and attached them to each other. Fold the full length of the paper in and out as accordion-style and create a sharp fold by pressing down along the edge. Then flip the paper over and make another same-sized fold. Keep flipping and making folds until you reach the end of your paper.
Open out the folded paper and get it to form a circular shape. Paste the edges. You have a multi coloured paper rosette. Cut out a circle from a thicker paper and paste it on one side of the rosette, so that it holds the folds in place.
Now cut out circle shapes of different sizes in various patterned paper.
Embellish each of the circles with sticker jewels. Start gluing the various embellished circles one on top of the other according to size.
Use a satin ribbon to make the ties of the Rakhi. Stick the assembled circles on to the satin ribbon using glue. Let it dry for 1/2 hour. You could also add fun embellishments like buttons, shells, dry flowers etc.