Just did a version of these for Miss F's Kindergarten class for Father's Day. Instead of punching the hole in the backing only, I glued the layers together & then laminated it all together (2 sides) using the industrial machine at school. I then used a leather punch (smaller than a regular hole punch) to make the hole for the tassel.
I was trying to hurry and get a gift done and this was my plan. Great for Mother's/Father's Day! Check out the tutorial ---> http://www.discountqueens.com/52-weeks-pinterest-week-23-fathers-day-shadow-photo/