1. Open your book to the second page. Take your large square craft punch, turn it upside down (so you can see to guide and center it) and feed several of the right hand pages into the punch. Slide it towards the middle of the book as far as you can go, keeping it vertically centered. Squeeze the punch, and punch out the squares. Important: Do not punch a hole in the first page of the book.
Remove the punch, feed the next few pages in, center again and punch out the squares. Continue to punch out squares until you've created a hole that is at least 3/4 of an inch deep. (see #1)
2. On the page after the last punched page, glue down a scrap of decorative paper to line the bottom of the "well" you just created. (see #2 and #3)
3. Center the wider ribbon on the spine of the book. Glue the tail of the wider ribbon inside the back cover of the book. Wrap the ribbon around the outside of the book cover, and glue the other tail down inside the front cover.
Glue the first page of the book (the one without the hole punched in it) to the inside cover to secure and conceal the ribbon tail. Glue the last page of the book to the inside of the back cover to secure the ribbon. Allow to glue to dry. (see #4)
4. Open the front cover of the book. Use your brush to apply a generous coat of glue along the page edges on all three sides. Allow the glue to dry, then give it a second coat. Don't close the book until it's had a thorough chance to dry, otherwise, the "lid" could get stuck closed (see #5)
5. Center your smaller ribbon on the spine of the book, in the middle of the wider ribbon, and tack it down using a couple of stitches with your needle and thread. (see #6)
6. Take your flower, and stitch it down to both layers of ribbon on the front cover of the book. (see #7)
7. Place your rings in the well and tie the ribbon tails into a bow to securely close box. (see #8 and #9)