a wooden ring - A suitable size for a child to hold. I found mine in a craft shop. It's about 5 inches in diameter; I think 3 inches would be better for a little hand, but my 21-month-old seems just fine with this larger one. Make sure it's very smooth - you may need to sand it with a very fine gauge sandpaper. You may also like to give it a polish with beeswax. I meant to, but ran out of time.
satin ribbon - Any width you like, though narrower ribbons will lay together more neatly on the ring. I cut mine into one metre lengths.
thread - in coordinating colours
Step 2. Fold hemmed end over the wooden ring and backstitch close to the ring. (Please ignore how messy the orange, red and pink stitches are. This was my prototype and I was experimenting to find the strongest way to secure the ribbon onto the ring.)