i was at storytime at a bookstore one day and saw a little girl wearing one of these in her hair, so i just had to try it myself!
decide how big you want your clip, and cut a strip of red ribbon (of your choice) twice as long. loop it like in the pic (or as you would a piece of tape) and glue the ends together.
(sorry for the pink ribbon. use red for thsi project) take your circle loop you have and place a dab of glue onto the inside middle and press the top and bottom together. repeat this step until you have around 5 or 6 loops.
stack all of your loops together using glue (or stitching) until you have a full elmo head. add googly eyes and a little orange pompom ball and a clip of your choice.
i have attached these to velcro for baby hair, headbands and alligator and snap clips