We made this in club this past week. We used the diagonal score board to make the outer envelope. It's perfectly sized to hold a gift card. I like the idea of presenting it like this. I think it looks pretty.
Here's the insert. The cupcake top is popped up. The top of the tag is punched with the Scallop Tag Topper punch. The cupcake top is punched with the Tree Builder punch.
You could also close it up to give. If you slide the band up like this, the envelope flap will tuck under the band. The tag is on the opposite side of the envelope than if I was presenting it open like above.
Stamps: Sprinkles of Life.
DSP is retired Moonlight pack. If you missed it, I have some available for sale. I also have some of the retired ribbon available as part of a ribbon share (2 yds ea of each of the 5 in colors). Let me know and I'll hook you up.