Today we used the crayons we made for this project, but you could definitely use old crayons that have lost their appeal :) We used a box grater to shred them and I put them in a cupcake tin. For the shape of the cutout we traced cookie cutters on craft foam (mine is adhesive, but you could just use glue) and then cut out the middle.
I let the kids put whatever colors they wanted in the middle of some wax paper and then I folded the wax paper over, sandwiching the crayon shavings in the middle. Then I put the wax paper in between some cloth napkins and ironed them on medium until melted.
After they cooled and hardened again, We took our foam cut out and put it over the wax paper then we cut the excess around it. Then we placed the same color foam rectangle completely covering the back. Then we used some Fiskars scissors to decorate the edges and a hole puncher to string the ribbon through. We used them as ornaments, but they would also be super cute as gift tags as well.
The kids loved doing this and I had to pry them away from the table in order to get them to stop playing in the crayon shavings :)
vegetable peeler or cheese grater
cloth to iron on
decorative scissors such as fiskars