Here are the instructions and template for my Graduation Gift Card Holder. I hope everything is easy to understand. Let me know if you need more explanation.
The template aligns with the straight edge of the paper and spans across nearly to the other side of the 8.5" dimension. The mortarboard measures 4" on each side, if that helps.
grad cap
grad cap open
This card fits in a standard A7 size envelope.
Thanks for looking!
update: I've been told that the template is not printing out correctly and I've tested several printing options. I think perhaps the scan of my template got scaled funny on one end of the cap. It should measure 4" on all sides of the cap. My advice is to print the template on a scatch sheet of paper and then cut it out, adjusting the top flap so that it is even when you fold it over. Then use this to trace on your cardstock.
If all else fails, PM me with your address and I'll mail you a template.
July 2009 update: I've created another pdf file that I hope prints correctly for you. Just make sure to set your print settings to "fit to printer margins" (or something similar).
NOTE: Please do not sell cards created with this template.