I have posted the following tutorial over at the Frosted Designs Blog, but also want to share it here with you.  I get so many compliments on them and think it is the perfect project 
to share:)
I actually found this idea on-line a long time ago and wish I 
could remember where I found it since it is such a great project to make, 
especially this time of year.
I have given this as a gift to teachers, my 
hairdresser, friends and family.  It makes a great hostess gift, 
too!
This project does requiring some measuring, so if you have a 
Scor-Pal or a Martha Stewart Score tool, that would be best.  If you have a 
paper trimmer with a scoring blade, that should also 
work.
Supplies:
1 - 12" x 12" cardstock sheet for the main section 
of the box
1 - 3" x 6" cardstock sheet (to match that above) for the sides of 
the box
1 - thin magnet set (I used a Basic Grey magnet set)
1 - 12" x 12" 
coordinating sheet of cardstock
1 - 12" x 12" coordinating patterned 
paper
Additional sheets of paper for inside of box, if 
desired
Embellishments for box, if desired
Start with a 12 x 12 sheet 
of cardstock and cut it in have (you will end up with 2 6 x 12 pieces).  I've decided to use a Teresa Collins line called "Christmas Cottage".  All of her lines are just beautiful, but since I want to give this as a Christmas gift, I wanted to use a Christmas line.
Lay one of the 6 x 12 
pieces across your scoring tool (12" width along the length of the 
ruler).
Score the first piece at 3", then at 5", then at 10".  You should 
have 4 sections.  The first should be 3", the second section should be 2", the 
third section should be 5" and the last section should be 2" (for a total of 
12").
Score the second piece at 5", then at 7", then at 10".  You can 
then cut off that last two inches as you will only need this piece to be 10".   
Your second piece should end up with 3 sections.  The first should be 5", the 
second should be 2" and the third should be 3".
Lay out the first 
section and put adhesive on the inside of the 3rd an 4th sections.  This is the 
5" section and the 2" section.
Take your second piece (remember that the 
1st and 2nd sections are 5" and 2" respectively?  Lay them over the section of 
the first piece that you just covered with adhesive.  If your last 3" section is 
hanging freely, you've positioned your sheets correctly, so press the 5" and 2" 
section together.
Now you should have one long 6" wide sheet with 5 
sections.  The first section should be 3", then 2", then 5" (double enforced), 
then 2" (double enforced), then 3".
For going forward, remember that the 
2" reinforced section as per above will be the bottom of your box.
The 5" 
reinforced section will be the back of your box.
For the next step, you 
will need another sheet (or scrap) of the same cardstock, at least 3" by 6".  
Cut to 2 3" square pieces.
Score each piece at 
1/2" and 2 1/2".  This should leave 3 sections, 1/2", 2", 1/2".  These will be 
your side pieces.
It is easier to decorate each section of your box 
BEFORE you put it together.  I decorate each section separately with a mat ad 
decorative paper on the inside and outside of each section.  Besides looking 
really nice, the multiple layers really add reinforcement to the box.
On 
what will be the outside of your box, you have the following sections:
2 
- 3 x 6
1 - 2 x 6 (one od the 2 x 6 doesn't need to be decorated as this is 
the bottom of your box)
1 - 5 x 6
Cut your mats 1/4" shorter than the 
box sections (both height and width...example, 2 3/4" by 5 3/4" for the 3" x 6" 
section).
Reduce the size of each section by a 1/4" again for the 
decorative paper (both height and width...ex.  2 1/2" by 4 1/2" for the 3 x 6 
section).
Before you place your decorative paper on the bottom front of 
your box (the lower 3" by 3" section), adhere one half of the magnet set on the 
middle/top of the outside of the lower front of your box about a 1/2" down from 
the top of the section.  Place the other half of the magnet on top of the magnet 
you just attached and position the upper front of your box on over the lower 
front section and once positioned, squeeze the pieces together so that the outer 
magnet attaches to the upper front section of your box.
Place adhesive on 
the outside of the 1/2" sections of each of your side pieces.  
Now, it's 
time to assemble the box.  
Hold up the 3" section 
and the 5" section of your box with the 2" reinforced bottom on the 
table.
Carefully position your 3x3 pieces in between each side of your 
box (adhesive on the inside edge of each 3" section and 5"section (first 3" 
up).
You should now end up with a 3" section on the lower front of your 
box, a 2" reinforced section on the bottom, the 5" reinforced section to the 
back, another 2" section on the top, and a 3" section that will become the upper 
front section (flap to close the box).
If you also want to decorate the 
inside of your box, you should do so now.
Once your 
decorating is completed, you can make coordinating cards (5 1/2" by 4 1/4" 
cards) and place them in the box along with some envelopes and you are ready for 
gift giving.
Happy creating!
Lori McCausland
Frugal Scrapper