A graduation cap card box can be both decorative and functional at your graduation party. Create one yourself in about an hour, not including time for the glue to dry. The bottom of the card box is left open for easy access to the cards. Tip it over to carry them home with you.
Place the punch bowl upside down on a table and use a box cutter or utility knife to cut out a section about an inch wide across the flat part of the bottom. Depending on the thickness of the bowl, it may be easier to first score the area by punching small holes with the tip of your blade.
Lay the fabric over the upside-down bowl. Trim the fabric so it is about 2 inches longer than the edge of the bowl all around, then lay the cut fabric flat on the table and place the bowl right-side up in the center. Squeeze a generous amount of glue around the inside edge of the bowl. Pull up one section of the fabric and fold it over the edge into the glue and secure with a clamp. (Clothes pins or bag clips work well as clamps.) Gradually work your way around the bowl pulling up the fabric section by section and securing with clamps all the way around. Let the glue dry completely before removing the clamps.
Cut the cardboard into a square with sides slightly larger than the diameter of the top of the bowl. Cut a wide slit in the center of the square to line up with the slit in the bottom of the bowl. To wrap the cut cardboard in fabric, lay it in the center of the fabric, fold opposite ends of the fabric over the square and secure with glue. (Remember when trimming the fabric that even though this will be the bottom of the mortarboard, any part that extends past the flat part of the bowl will be visible.) For the other two sides of fabric, fold in the edges to make triangles and then fold the triangles over the square of cardboard (like wrapping a present). Allow the glue to dry.
Place the bowl upside-down on the table. Place the wrapped square on top so the smooth side is showing. Carefully cut through the fabric covering the card slot in both the bowl and the cardboard to make three slits in the shape of a capital I. Turn everything over. Fold back the two long pieces of fabric and secure to the inside of the card slot. You may want to add extra glue between the bowl and square at this time as well. Secure with clamps until the glue is dry.
To make a tassel, cut a piece of cardboard to the desired length (or use a thin book) and wrap the floss around it several times to the appropriate thickness. Cut two pieces of floss about one foot each. Slide the end of one under the loops of floss and tie a knot. Take the other piece of floss and wrap it tightly around the loops near the knot. Cut the loops on the opposite end and trim the bottom evenly. Attach the other end of the first piece of floss to the inside of the card slot and let the tassel hang over the side.