Have you gotten the tassel itch? They're everywhere these days, and definitely more sophisticated than the ones I remember from my childhood. If you're unsure how to incorporate tassels into your designs, here's a quick tour to tickle your inspiration.
The thing about tassels is that you can make them out of just about any material. Really. If it's something that can be turned into strips, you can make it into a tassel. Paper. Plastic. Chain. Thread. Embroidery floss. Tissue paper. Fabric. Yarn. You get the idea.
Pinterest is also great for DIY instructions, so I won't get into it here. Mostly, it's the same technique you used in fifth grade. Find a sturdy piece of cardboard (sturdier than an index card), cut to your desired length. Wrap the cord around the card until you have the desired fullness. Bring a string through the center to make a loop, and wrap another length of cord around the whole bundle to hold it all together. The image at right links to one set of instructions, but once you start perusing Pinterest you'll find many more. So start tasselling -- and send photos of your creations!