Chris, the punch I used has set holes that you can't change. It's like a regular border punch that has a decorative design. I adhere one end piece on the back of the cardstock and then weave the rest through. Depending on how wide your cardstock is and how many holes you end up with, you can have the other end piece showing (as in my sample), or it will go back behind and be adhered on the back.
I used the Fiskars version of this punch, but there are many out there!