First decide where you would like to have your lacing. Using a ruler, mark where you are going to punch your holes. I like to use the Tim Holtz ruler because it has little marking holes that make it easier. I left a 1" space between each hole. You can choose a different spacing if desired. Mark two columns of 'points' as shown above. Again, you can decide on the width you would like your lacing.
TIP: You can change the look of the lacing by varying the distance between your holes. Click on a link at the bottom of this post to see other variations of this lacing.
Punch your holes and set the eyelets. This step is optional. You could use this technique without the eyelets. If using eyelets, take into consideration the type of ribbon you would like to use. Originally I had planned to use a thin sheer ribbon which is why I used 1/8" eyelets. I ended up using a satin ribbon which was very difficult to pull through these small holes because this process requires threading the ribbon through each hole more than once. When using wider or thicker ribbon, it is better to use 3/16" eyelets.
Cut an ample piece of ribbon (remember we will be doubling up on holes). Thread both ends of the ribbon from the back to the front.
Skipping one pair of holes, thread the ribbon into the next set of holes. Your ribbon ends should be behind the page now.
From behind the page take each ribbon end and thread through the hole that sits directly above the hole you last threaded. Remember we are threading from back to front now. Do the same for both ends. You should end up with something similar to the picture above. Adjust & straighten each strand as needed. Sometimes the ribbon twists unintentionally as we are lacing.
Using the two strands that are now hanging in front of the page, repeat the same process. Cross the strands twice, creating a twist, skip a set of holes (only this time, notice that the set of holes we are skipping have already been laced) and thread through the next set of holes. See picture above. Repeating the same process as described earlier, take the strands that are now behind the page and insert in holes directly above the last holes threaded. These holes will already have ribbon going through it. This is where we start doubling up on the holes.
Continue to repeat the steps as described above. This is what it should look like after bringing the ends from back to front and twisting again. (I'm sorry. I should have taken another picture before this one.) Continue lacing until you use up all of your holes.
This is what it should look like when you are done. If you have an even number of pairs (of holes), you willl end up with the ends of the ribbon behind the page. If you have an odd number of pairs, the ribbon ends will be coming out of the front of the page. Secure the ribbon ends with tape.
I added some pearl pins to each twist for added interest. You could use roses, bling etc. For a little variation, you could also leave out the twist. Just have fun with it!