Okay, my crown was already done when I decided to write this, so I'll just draw my pictures :)
After gathering your supplies, take your felt, and cut one thick strip out to use as your crown base, (cut from the length if you have a sheet of felt), fold it in half lengthwise, and glue it together.
Decorate as you please. :)
I hot glued beads to the crown, and used some red felt to cover some of the headband.