Take your toilet paper roll and cut it into 1.5-2 inch rings. It doesn't really matter if it's a little rough, because it will all be covered by yarn, but try to make them fairly straight and similar in size.
Take a decent sized bit of yarn and hold it in your hand. With the other hand, dab some hot glue on the inside, and stick the yarn to it. Begin wrapping the ring in yarn, occasionally adding some hot glue to the inside, to keep the yarn secure.
If your yarn doesn't make it all the way around, just finish it off on the inside, cut another piece of yarn, and start again. It will be completely unnoticeable when the ring is done.
Take three buttons of different sizes, and coordinating colours, and align them on top of each other. Take your wire, and thread it through the button holes. Add a dab of glue underneath the buttons. Wrap a strand of wire around the ring, to secure it further. Bring the extra wire up, and curl it in a decorative fashion.
Voila! I made 2 with buttons, and 2 just plain, and it turned out to be a really nice presentation.