I followed a simple tutorial I found at Ruffles and Stuff. I like that all you really need are scissors, a ruler and a glue gun.
You can find the easy to follow instructions on her website. Disney recommends 1.5" for the small piece that wraps around the middle, but I found that to be too small and had to stretch out my felt to about 2".
I'm pretty happy with this style. I might try it again in green.