Red buttons serve as ornaments and a star-shape button becomes the shining topper. A loop attached to the top of the tree wraps over the star button to secure the front cover. When unlooped, the tree pulls downward to reveal the pocket that stows the gift card.
Trace the patterns onto tracing paper; cut out the shapes. Use the patterns to cut one holder from white felt and one tree from green felt, cutting the tree with pinking shears.
Fold the rectangle-shape area of the white felt in half to form the pocket. Sew 1/8 inch from the side edges of the pocket. Position the tree on the triangle-shape area of the white felt on the outside of the holder and sew in place 3/16 inch from the edges of the tree.
Hand-sew the red buttons on the tree. Fold the tree flap up to close the holder; press lightly. Mark the placement for the star and sew a star button to the front of the pocket. Fold elastic cord in half and tack the ends to the back of the tree flap, adjusting the length as needed to fit over the star.