I found my garland for $1 at Goodwill and immediately knew it had the potential to be something cuter.
First decide how many bows you will need and what size you want them to be. I cut strips that were 9" by 3.25" for the bows, and the smaller strips that make up the middle of the bow and attach the bow to the garland were 4" by .875". Stitch the long edges of the bigger pieces. You can use a machine; I did mine by hand since I wasn't going for a perfect look. Sew all the way around the smaller parts. These stitches are purely decorative because felt won't ravel, which is one of the reasons I chose felt for this project. Not having to hem things saves SO much time.
Take the bigger pieces and fold each of the shorter sides towards the middle so they overlap. sew through all three layers using large stitches, then pull the thread tight so that the bow gathers. Sew through the gathers several times to hold them in place.
Now attach your velcro (mine is the adhesive backed kind, another time-saver) to the short pieces so that you can wrap them around both the bow and the garland. Attaching them to the garland this way allows you to move them around until you get the placement right. I used paperclips to hang my garland, bent as shown.
Hang and enjoy!