I used this to hold a small present for my son for Easter - it does make a unique package! He uses it to hold miscellaneous items.
The first step in making it is to measure up 4 inches from the bottom of the bottle and mark using a Sharpie. Cut the top off the top of the bottle (I used a hot knife) then measure 3 1/2 inches down and mark with a Sharpie. Cut along the lines (I used a pair of scissors as it allows better control). It will look like the pieces below when you are done.
Cut a small square of duct tape, enough to cover the opening on the top.
Put the top inside the bottle and an angle and wiggling it until it fits snuggly, the use the hot glue gun to give it texture.
On the very top I put swirls on the tap and down about and inch then made oval shapes all the way around and added other squiggles in the middle, but don't cross over to the bottom of the bottle. On the bottom I mostly did different squiggles; on this too, don't cross over to the top of the bottle.
I used a few coats of black spray paint on the outside, allowing it to dry between coats, but you could use any color that strikes your fancy.
After completely dried, I also then used glitter glue on mostly on the "veins" created by the hot glue gun to give it sparkley, mystical look, but it you could omit it if you wanted a different look.