It's a wallet album made with ONE sheet of 12x12 paper. It's SO cool! I found it at With A Grin and you really need to watch the video to appreciate how cute this is when all decked out.
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This video by Stampingholly shows how to fold the paper:
So, you want to make a few wallet albums now? I do! I'm going to make a bunch of them for Christmas as stocking stuffers with gift cards or just with sentiment tags. Maybe send some with xmas cards. These are too cute and too easy NOT to make!