I saw this great tip for making a graduation gift money holder at Splendiferous Creations. I really like that this craft could easily be used for any occasion or money gift. I made a few changes, since I didn't have the stamps. I used school colors and mascot to decorate mine for my cousins graduation gift. (don't worry, she's getting more than $1, that's all I had in the house for a picture!) I also cut the slits and circles by hand.
This turns out really nice, head over to Splendiferous Creations for the template, and give it a try!