Depending on what you are making with your chain it might take more time. You can make all sorts of things out of your wrapper chain (such as clutches, bracelets, and necklaces). I used newspaper instead of a wrapper but you can make them out of virtually anything thats flat (such as magazines, potato chip bags, catalogs, gum wrappers, anything colorful and pretty to you).
Start by laying out your newspaper and covering one side in clear masking tape.
Cut the newspaper into strips that are 2 inches by 4 inches.
Grab a strip and face the tape side down.
Fold the paper in half (hotdog ways) so that the tape is on the outside.
Make a firm crease.
Unfold the strip of paper and fold both ends to the middle so they meet where the previous crease was made.
Fold again at the first crease so that both ends are tucked inside the fold.
Fold strip in half so you end up with a V shaped piece of paper.
Pinch the corner of the "V" to form crease.
(In this picture you get a LOVELY view of my thumb which i sliced open with an X-acto knife a few days before and had to get stitches.)
Bend ends into the crease of the "V".
This forms a sort of heart shape with two slits which will be used later.
Repeat previous steps until you have several of these "hearts".
This part gets a little tricky..
Take a second "heart" and tuck its two ends into the slits of the first "heart".
Push it all the way through.
You'll end up with a "V". The first "heart" will have the corner crease outward and the second "heart" will have two "wings" pointing out.
Take a third "heart" and push it into the slits of the second "heart".
This is what it should look like after you push it all the way through.
Continue adding the "hearts" until your chain is long enough for whatever craft your making.
(Just another chain photo)