I made these for these twin sisters that were graduating (Hence there are 2 of the same Graduation bears^_^)
Heres a diagram of them. I haven't had time to draw how to make the tassel yet, (you can just google it for now) but I'll upload the tassel instructions on here when I've drawn them.
This is a cute gift for friends/ family graduating. You can change the colour of the tassels to match the schools colours or colours of the degrees, and even the colour of the bears as well to match their fav colour. Maybe even add a scroll to the bear's hand if you like^_^
(Sorry, the writing's hard to read, CLICK the pics to enlarge)
103 dark yellow
10 light peach
2 light pink